Commercial Farmers' Union of Zimbabwe

Commercial Farmers' Union of Zimbabwe

***The views expressed in the articles published on this website DO NOT necessarily express the views of the Commercial Farmers' Union.***

Tobacco mop-up sales planned

Tobacco mop-up sales planned

Oliver Kazunga Senior Business Reporter
TOBACCO mop-up sales will be conducted later this month as this year’s crop marketing season comes to an end today.

Statistics from the Tobacco Industry and Marketing Board (TIMB) on Wednesday show that 187,7 million kilogrammes of the tobacco worth $551,5 million have been sold.

During the comparable period last year, 179 million kg were sold generating $526 million.

“The selling season comes to an end tomorrow with the mop-up sales scheduled for August 23. The duration of the mop-up sales would depend on the availability of the crop,” said TIMB communications manager Mr Isheunesu Moyo in an interview yesterday.

This year’s tobacco selling season began on March 30 with auction sales while contract sales opened the following day. The average price for this year remained unchanged at $2,94 a kg.

Last month, Zimbabwe revised its tobacco sales targets from 175 million kg to 190 million as deliveries continued trickling in.

Mr Moyo is on record saying the rise in tobacco deliveries was a testimony of an improved performance by farmers.

Meanwhile, 56 million kg of tobacco have since the beginning of the year been exported to different parts of the world generating $290 million.

During the comparable period last year, 59,5 million kg had been exported raking $321,8 million. — @okazunga


New Posts: