Over 5 Million Kilograms of Zimbabwe Tobacco Sold so Far

Source from:  tobaccoreporter.com Zimbabwe, Thursday, May 17, 2007 05/21/2007

A total of 5.3 million kilograms of flue-cured tobacco worth $2.3 billion ($9.6 million USD) were sold in the first 13 days of the tobacco marketing season in Zimbabwe that commenced three weeks ago, according to a report in The Herald. This year's figure is almost double the 2.5 million kilograms, worth $429 million of the "golden leaf" delivered during the corresponding period last year. In terms of US cents per kilogram, tobacco sales remained almost the same as last year with the average price ranging between US $1.68 and $1.69. Statistics compiled by the Tobacco Industry and Marketing Board on Tuesday revealed that deliveries to the floors have continued to firm with a total of 512,658 kilograms valued at $244,104,584 going under the hammer on Friday last week, compared to 107, 584 kilograms or $18,495,969 in monetary terms over last year's corresponding period. The figures, however, dropped on Monday to 306,247 kilograms valued at $160,997,384, although they were still higher than last year's. Friday's figures were almost double the quantity of tobacco delivered on Wednesday and Tuesday of the same week. Of the total deliveries to date, 2 million kilograms worth $967,401,368 ($3,869,805 USD) changed hands while 3.4 million kilograms valued at $1.4 billion ($5,743,900 USD) went under the hammer in the contract sales. Of the total deliveries to date, Zitac has received 432,324 kilograms, BMZ 823,377 kilograms and TSF 754,242 kilograms. BMZ continues to hold pole position, accounting for 16 percent. TSF has 14 percent and Zitac 8 percent, while contract sales take up the remainder. TIMB acting chief executive Dr Andrew Matibiri expressed optimism that this year would be better in terms of both quality and deliveries as more farmers gained experience in tobacco production, formerly a preserve of the whites. Meanwhile, the Reserve Bank of Zimbabwe has released over $4 billion to all auction floors to pay tobacco growers the bonuses carried over from last year. Enditem