Zimbabwe: 98 Million Kilograms of Tobacco Sold

Source from:  The Herald 06/03/2011

A total of 98 million kilogrammes of flue-cured tobacco worth US$261 million has so far been sold since the opening of the tobacco marketing season in February. Last year 72 million kilogrammes of the gold leaf worth US$218 million were sold during the same period. This reflects a 36,26 percent from last year. The average price for this year has been US$2,67 per kg while that of last year was US$3,03 per kg. So far, 1 288 082 bales have been laid while 1 199 492 bales have been sold with 88 590 of them being rejected. During the same period last year a total of 981 500 bales had been laid, 895 093 bales going under the hammer while 86 407 bales were rejected. The Tobacco Sales Floor has sold 28 million kilogrammes worth US$67 million at an average price of US$2,44. TSF has laid 423 967 bales, sold 385 531 bales and rejected 38 445 bales. At the Boka Tobacco Floors a total of 12 million kilogrammes has been sold raking in US$26 million in the process. The average price was US$2,13 per kg. BTF has laid 184 842 bales, sold 164 558 bales and rejected 20 284 bales. New comers Millennium Tobacco Floors have so far sold 7 million kilogrammes with a value of US$15 million at an average price of US$2,17 per kg. MTF has laid 96 617 bales and sold 93 655 bales while 5 962 bales have been rejected. All the three auction floors have sold 46 million kilogrammes of tobacco worth US$108 million at an average price of US$2,32 per kg. The three floors have laid 708 435 bales and sold 643 744 bales while 64 691 have been rejected. On the contract side, a total of 52 million kilogrammes with a value of US$154 million has been sold at an average price of US$2,90 per kg. Congestion at all the floors has been easing as both farmers and floors personnel have improved co-ordination. The quality of the leaf has also vastly improved - a fact that has seen prices firming to a high of US$4,80 per kg after initially falling to as low as US$0,10 per kg in the course of the season. The country's target of 170 million kilogrammes of tobacco this season looks set to be busted as more tobacco continues is delivered. Enditem