Tobacco earns $561m

Earnings from tobacco exports have passed $560 million as at October 25, lower than last year’s figures, latest Tobacco Industry and Marketing Board (TIMB) statistics show.

Zimbabwe has so far sold 101 million kilogrammes of the golden leaf worth $561.6 million at an average price of $5.56 per kg, lower than the nearly 113.5 million kg for $596.9 million at an average price of $5.26 per kg achieved last year.

China leads the buyers, snapping up 30.42 million kg at an average price of $8.43 per kg fetching $256.3 million.

Belgium bought 22.66 million kg of the leaf worth $104.4 million at an average price of $4.61 per kg.

South Africa, which is Zimbabwe largest trading partner is the third largest buyer of its tobacco, taking up 11.28 million kg for $44.8 million at an average price of $3.98 per kg.

TIMB said in its weekly report that more farmer had registered to grow the crop.

“The number of growers who have so far registered to grow tobacco during the 2014/15 season are 82 624, up from 76 545 recorded last week. During a similar period in 2013, approximately 77 290 growers had registered,” it said.- The Source

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