Tobacco Prices Continue to Firm

Source from:  The Herald 06/24/2009

PRICES of tobacco have continued to firm around US$3 per kg as the 2009 selling season entered its eighth week. More than 26,9 million kg of flue-cured tobacco have been sold so far, compared to 21,5 million sold during the same period last year. The 26,9 million-kg sold through both auction and individual sales realised US$77,4 million. This compares favourably with US$67,5 million that was realised from the sale of the 21,5 million kg during the same period last season. Of the 26,9 million kg, 16,6 million kg were sold under contract system, realising US$47,9 million while 10,3 million kg was sold under individual sales, raking in US$29,5 million. Under individual sales Tobacco Sales Floors has sold the largest amount of tobacco at 3,9 million kg worth US$11,3 million followed by Zitac with 3,4 million kg worth US$9,3 million. Burley Marketing Zimbabwe sold the least tobacco weighing 2,9 million kg that is worth US$8,7 million. A total of 42 million kg are expected to be delivered before the end of the season. Sales are expected to be complete well within 80 selling days or at the latest by Friday 28 August 2009. Enditem