Zimbabwe: 'Tobacco Sales Floors to Close for Elections'

Source from:  The Herald (Harare) 19 June 2008 06/20/2008

THE country's three tobacco sales floors will close temporarily on Tuesday next week to pave way for the June 27 Presidential run-off and House of Assembly by-elections. Tobacco Industry Marketing Board's acting chief executive, Dr Andrew Matibiri said in a statement the resolution was taken by the TIMB board at its meeting held on Thursday last week. "The board resolved to temporarily close all tobacco sales on Tuesday June 24, 2008 and re-open them on Monday 30th June 2008. "This decision was taken to enable tobacco growers to get their payments and travel back to their farms and homes in time for the Presidential run-off election," Dr Matibiri said. Agriculture Minister Mr Rugare Gumbo said they had welcomed the TIMB decision. The latest announcement comes as farmers had panicked over rumours of an early closure of the floors that were doing the rounds last week. This resulted in a higher than normal inflow of tobacco deliveries resulting in the auction floors making bookings of up to four days instead of the Tobacco Industry Marketing Board's stipulated one day. Meanwhile, tobacco deliveries continue to rise with the latest figures from the TIMB showing that 21,8 million kilogrammes have been sold at the three floors since the beginning of the selling season. This compares favourably with 24,5 million kg that were sold at an average price of US$2,19 during the corresponding period last year. The 21,8 million kg, which were sold at an average price of US$3,13 earned the country US$68,6 million against US$53,8 million earned for the same period last year. A total of 13,2 million kg worth US$40,6 million were sold under contract while 8,5 million kg worth US$27,9 million were sold under individual sales. A total of 74 672 kg of burley has been sold at an average price of US$1,64 realising US$122 145 so far. This compares with 52 213 kg that were sold at an average price of US$1,69 realising US$88 290 during the same period last year. Burley sales are sold by contract only. Enditem