Zimbabwe's Crop Coming up Short

Source from:  tr.itsmyiq.com Jul 24, 2007 07/26/2007

Zimbabwe's sales of flue-cured look set to fall about 7-10 million kg short of the estimated 80 million kg total predicted for this season's crop, according to figures given in a report by the Zimbabwe Independent. The new estimate is based on the level of sales as at July 18, 50.4 million kg, and the average daily rate of sales to that date, 485,000 kg. Officially, the sales have 37 days to run, which, even if delivery levels were maintained right up to the end, would put the crop at only just over 68 million kg. But sales are usually extended by about two weeks to cater for late deliveries, so some observers believe that the total will reach about 73 million kg. According to Tobacco Industry and Marketing Board figures, of the 50.4 million kg sold by July 18, 29 million kg, valued at US$68.7 million, had been sold by contract. About 7.3 million kg, valued at US$17 million, had been sold over the Tobacco Sales Floor auction floors; about 6.8 million kg, valued at US$16.1 million, had been sold over the Burley Marketing Zimbabwe (BMZ) floors; and 6.3 million kg, valued at US$15.3 million, had been sold over the Zimbabwe Tobacco Auction Centre floors. Meanwhile, 52,213 kg of Burley, valued at US$88,000, has been delivered to the BMZ auction floor. Enditem