Zimbabwe: 30,2 Million Kg of Tobacco Go Under the Hammer

Source from:  by the government of Zimbabwe The Herald (Harare) 18 July 2008 07/21/2008

A TOTAL of 30,2 million kilogrammes of tobacco have gone under the hammer since the beginning of the selling season compared to 42,2 million kg that were sold during the corresponding period last year. The 30,2 million kg was sold at an average price of US$3,17 per kg and grossed US$96,1 million. Last year US$97,8 million was received from the sale of the 42,2 million kg at an average price of US$2,31 per kg. Of the total, contract sales grossed US$60,6 million from the sale of 19,5 million kg at an average price of US$3,11 per kg. Individual sales amounted to US$35,5 million from the sale of 10,8 million kg at an average price of US$3,28 per kg. The figure for the total number of bales laid to date stood at 383 898, of which 363 815 went under the hammer. A total of 464 393 bales were sold from 484 393 bales that were laid during the same period last year Of the three floors, Zitac continues to handle the bulk of the tobacco with 4 million kg having been sold at an average price of US$3,18 realising US$12,8 million. Burley Marketing Zimbabwe sold the second highest number with 3,4 million kg that was sold at an average price of US$3,34, which earned the country US$11,5 million. Tobacco Sales Floors handled the least amount of tobacco at 3,3 million kg, which sold for an average price of US$3,35 realising US$11,1 million. At least 75 million kg are expected to be delivered to the auction floors this season. Enditem