Zimbabwe: Tobacco Rakes in U.S.$102,7 Million

Source from:  The Herald 07/10/2009

ZIMBABWE has so far earned US$102,7 million from the sale of 34,9 million kilogrammes of flue-cured tobacco at an average price of US$2,94 since the marketing season started in May. This is compared to 27 million kgs worth US$85,5 million that were sold at an average price of US$3,16 during the comparative period last year. Of this year's total, 22, 1 million kgs were sold through the contract system while 12, 8 million kgs were sold through the auction system as at July 03. Tobacco Industry and Marketing Board (TIMB) chief executive Dr Andrew Matibiri said they were optimistic of meeting the target of 42 million kgs this year. "We will meet the target comfortably," he said. Last year 75 million kgs of the golden leaf went under the hammer. Dr Matibiri said farmers were happy with the current prices even though they were slightly lower than last year. The marketing season was expected to draw to a close at the end of August. Enditem