Zimbabwe: Tobacco Exports Earn US$182m

Source from:  The Herald (Harare) December 6, 2006 12/08/2006

ZIMBABWE exported 60,5 million kilogrammes of tobacco during the first 11 months of this year, earning US$182 million, according to statistics released by the Tobacco Industry and Marketing Board yesterday. TIMB said a total of 59,9 million kg of flue-cured tobacco -- the most popular variety -- found its way to various world markets, earning the country US$180,5 million. About 593 862kg of burley tobacco was exported, raking in US$1,76 million. Burley tobacco has been selling at an average price of US$1,76 per kg since the beginning of the year while the flue-cured crop was sold at average price of US$3,00 per kg. It is expected that tobacco exports for 2006 could exceed US$200 million as more exports are expected this month. Export volumes have been increasing sharply since August, a clear reflection that tobacco which went under the hammer at the auction floors earlier this year is slowly filtering into the export market. Tobacco exports went up from the July's figure of US$3,2 million to US$32,6 million in November. The upward trend could continue until April next year when the 2007 selling season begins. As most of the exported tobacco is semi-processed, it fetches significantly higher prices than those offered at the auction floors. Zimbabwe tobacco finds its way to the European Union, the Middle East, Asia and Africa. Enditem