Categories: Stories

Zimbabwe’s tobacco earnings down 14 percent after 60 days of trade

Tobacco sales have fallen 14 percent in the 60 days of trade since the tobacco selling season started, the industry regulator has said.

The marketing season normally starts in mid-February opened late this year following delayed rains and  late harvesting by farmers.

A report by the Tobacco Industry and Marketing (TIMB) shows that seasonal tobacco sales are down 14 percent at $413 million from $482 million sold last year after a similar period.

The total volume of tobacco sold so far at 140 473 412 kg is seven percent less compared to 151 648 224 kg last season, with most of the crop coming from the contract farmers.

Only 39 084 527 kg has been sold through the auction floors where merchants were paying an average price of $2.48 per kilogram.

The average price for contracted tobacco is $3.12 per kilogram.

In 2014, total flue tobacco amounted to 216 million kilograms earning the country $684 million.

This year Zimbabwe projects lower output at around 195 million kg.

(251 VIEWS)

Charles Rukuni

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

Recent Posts

ZiG loses steam, falls against US dollar for five consecutive days

The Zimbabwe Gold fell against the United States dollar for five consecutive days from Monday…

November 22, 2024

Indian think tank says Starlink is a wolf in sheep’s clothing

An Indian think tank has described Starlink, a satellite internet service provider which recently entered…

November 18, 2024

ZiG firms against US dollar for 10 days running but people still do not have confidence in the currency

Zimbabwe’s new currency, the Zimbabwe Gold (ZiG), firmed against the United States dollars for 10…

November 16, 2024

Zimbabwe among the top countries with the widest gap between the rich and poor

Zimbabwe is among the top 30 countries in the world with the widest gap between…

November 14, 2024

Can the ZiG sustain its rally against the US dollar?

Zimbabwe’s battered currency, the Zimbabwe Gold, which was under attack until the central bank devalued…

November 10, 2024

Will Mnangagwa go against the trend in the region?

Plans by the ruling Zimbabwe African National Union-Patriotic Front to push President Emmerson Mnangagwa to…

October 22, 2024