Zimbabwe: Over 1,000kg of Burley Tobacco Sold

Source from:  The Herald 06/02/2009

MORE than 1 000kg of burley tobacco valued at US$1,6m was sold at an average price of US$1,57 on the opening day of the tobacco auction floors with more expected to go under the hammer as the season advances. According to the Tobacco Industry Marketing Board, there has been a decrease this year from the amount of burley tobacco sold during the same period last year. In 2008, 5 098 kg worth US$ 10,7m was sold at an average price of US$2,09 on the first day as compared with this year's 1 012kg. Twenty-two bales of burley tobacco were laid on the opening day, compared with 85 bales last year during the same period, with 19 bales sold this year compared to 83 sold last year. The burley tobacco selling season opened during the second week of May. During the first week, sales were conducted at the floors. Follow-up sales are now being conducted at designated points on Tuesdays and Thursdays, until all the burley tobacco has been sold. Savanna Tobacco (Pvt) Ltd, Gold Driven Investments and Export Leaf Tobacco (Pvt) Ltd are this season's authorised burley tobacco contractors. They will buy the burley tobacco crop using an agreed price matrix. Gold Driven Investments (Pvt) Ltd conducted their contract sales at Tobacco Sales Floor premises, while Export Leaf Tobacco (Pvt) Ltd conducted their sales at Zimbabwe Tobacco Growing Company (ZTGC) premises, and Savanna Tobacco (Pvt) Ltd conducted their sales at Burley Marketing Zimbabwe premises. Contracted growers will deliver tobacco to the buying point of their contractor while non-contracted growers are free to sell to a buyer of their choice. TIMB chief executive, Dr Andrew Matibiri said tobacco growers could present their tobacco for sale in a loose form, provided that the tobacco is properly graded, the leaves are straight laid and unbroken. Some 42m kg of tobacco is expected at the floors this season with more than 75 percent of the total 2009 crop to be sold through the contract system. Enditem