Commercial Farmers' Union of Zimbabwe

Commercial Farmers' Union of Zimbabwe

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Tobacco bale deliveries drop 9pc

Tobacco bale deliveries drop 9pc

The country has so far earned $231,5 million in tobacco exports with Belgium emerging as the new major consumer

Business Reporter
TOBACCO deliveries at various contractors’ purchasing points have significantly improved while auction floor deliveries continue to be depressed, according to the Tobacco Industry and Marketing Board (TIMB).Latest statics from the board indicate current  bale deliveries have dropped by an average nine  percent compared to the same period last  year.

“Tobacco seasonal sales for 2015 for a period ending March 26 were at $31 million for 13 million kgs of tobacco, which was sold at an average price of $2,38 per kg. Same period last year sales were at $49 million for 16,6 million kgs sold at an average price of $2,98 per kg,” said TIMB.

Seasonal export earnings are now $218 million from 33 million kgs of tobacco since the beginning of the year to the period ending March 27.

The statistics show that $55 million was realised  from 15 million kgs of tobacco for the same period last year.

China, which in recent years has led as the major consumer of flue cured tobacco from Zimbabwe, has maintained the top position having so far spent $167 million from 19.4 million kgs of tobacco at an average price of $8.63.

South Africa was the second major consumer of Zimbabwe’s golden leaf buying 3.6 million kgs worth $13.7 million at an average price of $3.79.

Russia was on third place importing 1.4 million kgs valued at $4 million at an average price of $2.87.

A high number of farmers are leaving other crops like maize and cotton for tobacco, which they consider to have higher returns.

The tobacco sector has become one of the major sources of revenue after mining, since the adoption of the multi-currency system in 2009.


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