Tobacco Deliveries Subdued

Source from:  herald.co.zw Business Reporter 10/27/2008

TOBACCO deliveries remained subdued despite a series of clean-up sales, which started two weeks ago. The Tobacco Industry Marketing Board said only about 3 million-kg of tobacco had been sold during the mop-up sales, bringing to about 47,6 million kg of tobacco sold this season. About 45 million-kg had been sold during the actual selling season compared to 70 million last year. It is a far cry from this year's target of 77 million kg an indication that a lot of tobacco remains unsold. Earning to date from sales stands at US$154,5 million. Indications are that the season could extend beyond the mop-up as was the case last year. Most farmers were reportedly holding on to their crop due to a number of reasons including limited cash withdrawals, high transport costs, fuel shortages, the exchange rate, among others. Enditem