Harare Auctions Start Set for Next Week

Source from:  tobaccoreporter.com Zimbabwe, Thursday, April 19, 2007 04/23/2007

Zimbabwe's auction floors are set to open on April 24, according to a report in The Herald quoting a senior official with the Tobacco Industry and Marketing Board. The auctions were originally set to start on March 14, but the opening was delayed following disputes over prices and Zimbabwe's official exchange rate, which farmers claimed would condemn them to ruin. Late last month, with the official exchange rate standing at Z$250=US$1, the parallel market rate was Z$13,000=US$1. However, despite there having been no concessions in respect of the exchange rate, farmers are said to have started to make bookings for deliveries to the auction floors. Enditem