Zimbabwe: Tobacco Sales Rake in U.S. $59,7 Million So Far

Source from:  The Herald 04/16/2010

Harare - Zimbabwe has so far earned US$59,7 million from the sale of 18,01 million kg of flue-cured tobacco at an average price of US$3,32 per kg since the 2010 marketing season began on February 16. The figures are, however, slightly lower than the US$69,1 million that was realised from the sale of 24,2 million kg during the same period last year. According to the latest sales update issued by the TIMB US$35,6 million of the US$59,7 million was received from auction sales while the balance of US$24,07 million was realised from contract sales. Of the 18,01 million kg sold, 10,9 million was disposed under auction while the balance of 7,04 million kg was sold under contract. In terms of auction sales, Zitac has sold 5,8 million kg which fetched US$19,06 million at an average price of US$3,28 while 5,1 million kg went under the hammer at TSF realising US$16,6 million at an average price of US$3,23 per kg. A total of 255 327 bales have been laid under both the auction and contract systems since the beginning of the season. The auction system accounted for 176 007 bales laid and the remaining 79 320 were laid under contract. Out of this total 255 327 bales laid, 235 107 bales went under the hammer with the auction system accounting for 85 460 bales while the balance of 74 689 was sold under contract. A total of 77 million kg are expected to go under the hammer this season up from the 58,6 million kg for last year. A total of 65 202 hectares has been put under tobacco this season of which 11 000 ha was under irrigation. There were 28 000 farmers that sold their tobacco last year and the TIMB has so far registered 21 000 farmers this year. Enditem