Tobacco cultivation remains one of Zimbabwe’s top currency earners. Photo credit: distel2610, Pixabay.
Zimbabwe is well on its way to reaching its ambitious self-imposed target of 300 m.kg in the current 2024/25 tobacco marketing season. On June 12, the Tobacco Industry & Marketing Board (TIMB) reported that, by day 67 of the season, tobacco farmers had sold 285,026,842 kg of flue-cured virginia (FCV), leaving just 15 m.kg to go. At an average price of US$3.36 per kg, this corresponds to a value of approximately US$958 million.
On May 9, the country not only set a single-day sales record of 7.2 million kg but also achieved a season-high price of US$6.20 per kg—significantly higher than last year’s peak of US$5.76. However, average prices remain below those of the previous season, when US$3.43 per kg was attained.
While contract sales continue to dominate Zimbabwe’s tobacco marketing, statistics released by TIMB show that from day 38 until at least June 6, the average auction price consistently exceeded that of contract sales. During this period, the price gap between the two systems widened from US$0.01 to US$0.25 per kg sold. This prompted a representative of the Zimbabwe Tobacco Growers Association to tell The Herald that the long-term sustainability of the industry lies in the auction, rather than the contract, system.
By May 28, 2025, cumulative sales had already reached 237.3 million kg, surpassing last season’s total of 232 million kg, which had been reduced by drought. The current marketing season, which opened on March 5, is expected to run through to around September 10.
This year’s elevated target aligns with the objectives of Zimbabwe’s Tobacco Value Chain Transformation Plan (2021–2025). Alongside increasing production from 262 million kg in 2021 to 300 million kg by 2025, the plan also aims to raise value addition from 2% to 30%, grow the tobacco industry’s total value to US$5 billion, expand local financing and infrastructure, and promote sustainable tobacco cultivation.
In the current season, the area under tobacco cultivation expanded to between 120,000 and 132,000 hectares, up from around 109,000 hectares in previous seasons. The number of registered growers rose from 113,000 in 2023/24 to approximately 126,000. With the surge in supply, TIMB and industry experts emphasized the importance of quality control, urging growers to ensure proper curing, avoid grade mixing, and invest in infrastructure to maintain price stability. In early April, TIMB introduced a daily minimum price matrix—linked to average sales and contract prices—to shield farmers from potential price slumps caused by oversupply.
Tobacco remains one of Zimbabwe’s top foreign currency earners, contributing between US$800 million-US$1 billion annually. Nonetheless, critics have warned that the 300 m.kg target represents a high-stakes gamble in a global market marked by uncertainty, oversupply, and increasingly cautious international buyers. The global leaf shortage that characterized recent years may soon abate—at least for some varieties. According to Universal Leaf data, global FCV production excluding China stood at 1.839 billion kg in 2024, down from 1.941 billion kg in 2023. For 2025, the company forecasts a significant rise to an estimated 2.204 billion kg.