23 Aug 2019
Tobacco output in Zimbabwe for 2019 has exceeded the previous year’s record-breaking output of 252 million kilograms, statistics from the Tobacco Industry and Marketing Board (TIMB) revealed.
The Zimbabwean reports that even though drought conditions tampered with the crop’s growth, a total of 252.6 million kg was sold at Aug. 21 since the opening of the marketing season, which was on March 20th – the industry regulator revealed.
This was valued at 507 million U.S. dollars, while the same period last year sold 249 million kg worth 730 million dollars.
This year, the price of tobacco dropped to 2.02 from last year’s average of 2.92 U.S. cents per kg, marking a decrease of 31%.
Tobacco accounts for the highest foreign currency earnings in Zimbabwe, while China is the biggest buyer.
The TIMB said that the 2019 marketing season will come to a close on August 28th, and clean-up sales will take place on September 10th.
In a statement, TIMB said: “All stakeholders are advised that the 2019 auction floors will remain open until Wednesday 28 August 2019. Deliveries to selling points will be accepted until Tuesday 27 August 2019.”
TIMB spokesperson Isheunesu Moyo also said that they were still receiving tobacco from farmers, who brought in an average of 400,000 kg of tobacco to the auction floors every day.