ZIMBABWE
Tobacco Industry and Marketing Board (TIMB) statistics revealed that Zimbabwe has sold US$117 million from 51.66 million kilograms sold so far since the selling season opened on April 29 this year.
Tobacco sales increased twofold from US$46.83 million earned from 26.70 million kgs sold in the same period last year. The average price at both auction and contract floors stood at US$2.26 per kg, a 29.10% increase from the 2019 marketing season. So far this year’s crop has fetched the highest price of US$6.60 per kg, while the lowest has been US$0.10 per kg.
Despite this year’s crop having been grown under difficult weather characterized by delayed rains and prolonged drought, rejected bales declined to 23,801 from the 24,407 recorded in the same period last year.
Zimbabwe’s tobacco production has been on the increase in the past few years, with farmers selling a record 259 million kg last year, up from 253 million kg in 2018. In 2019 the country generated US$747 million in exports mainly to China and Europe, according to data from the Reserve Bank of Zimbabwe.