Zimbabwe tobacco earns $827.4 million

Zimbabwe’s tobacco exports increased by seven percent, earning $827.4 million as at November 22 compared to $771.8 million last year, latest statistics from the industry regulator show.

In a trading update, the Tobacco Industry and Marketing Board said the country exported 166.6 million kilograms of tobacco at an average price of $4.96 per kg compared to 138.6 million kg at $5.57 per kg last year.

China remains the top destination of the country’s golden leaf buying 56.3 million kg at $7.82 per kg worth $440.9 million.

South Africa continues to lead the buyers list in Africa, buying 20.9 million kg totalling $64.1 million at $3.06 per kg.

Belgium bought 19.8 million kg worth $59.9 million at $3.02 per kg.

So far, 99 448 farmers have registered to grow tobacco in the upcoming 2017/18 farming season.

Of the 30 719 hectares area planted, 17 019 hectares is under dryland tobacco while 13 700 hectares under irrigated tobacco.- The Source

(118 VIEWS)