Zimbabwe Exports Tobacco Worth US$85,9 Million

Source from:  The Herald June 22, 2006, By ANDnetwork .com  06/23/2006

Zimbabwe has exported a total of 28,5 million kilogrammes of tobacco worth US$85,9 million in the past five months. Out of the total, flue-cured tobacco accounted for 28,3 million kg worth US$85,4 million while burley contributed 192 830 kg worth US$437 248. The crop was sold at an average price of US$3 per kg. Figures released by the Tobacco Industry and Marketing Board (TIMB) on Tuesday show that the biggest crop at 8,5 million kg was exported in February, followed by March with 7,9 million kg while April had the smallest crop of 1,1 million kg. The European Union - which imported 13 million kg - -was the major destination for the country's tobacco, followed by the Far East with 9,6 million kg while the rest of Europe imported 3,7 million kg. Africa imported a total of 1,2 million kg of tobacco over the period. Meanwhile, a total of 18,6 million kg of tobacco worth US$34,9 million have gone under the hammer at the country's three auction floors at an average price of US$1,87 as at June 16, 2006. This represents a 47,65 percent jump on the 12,6 million kg that were sold during the same period last year at an average price of 1,20 cents per kg. An estimated 50 million kg of tobacco is expected to be sold this year, down from 74 million kg sold last year. Industry players attribute the sharp decline in production this year to the late disbursement of funds, shortage of inputs and excessive rain in some parts of the country. Despite the decline in production over the years, tobacco remains one of the country's leading foreign currency earners. Zimbabwe reached its peak in tobacco production in 2002 when it produced 237 million kg, to become the third largest producer of tobacco in the world. Enditem