Zimbabwe: U.S.$18,4 Million Tobacco Sold

Source from:  The Herald 02/29/2012

TOBACCO worth over US$18,4 million has so far gone under the hammer since the opening of the selling season on February 15. During the same period last year US$12 million was realised from sale of the golden leaf. Latest statistics from the Tobacco Industry and Marketing Board show that 5,2 million kg of flue cured tobacco have been sold with the contract system contributing the bulk of the crop. A total of 3,8 million kg of tobacco have been sold through contract while 1, 4 million kg have been sold through the auction system. The Tobacco Sales Floor is topping the list having sold over 617 000kg of tobacco. Boka Tobacco floors sold 481 000kg, Millennium Tobacco Floor, 194 000kg while Premium Tobacco floor sold 88 000kg. The average price for other auction floors is US$3,64 per kg while MTF's seasonal price averages US$3,79 per kg. There has been an increase in tobacco deliveries to the auction floors as many farmers have finished processing their crop. "Tobacco deliveries have increased and this week we may start receiving about 2 000 bales per day," said TSF managing director, Mr James Mutambanesango. Mr Mutambanesango raised concern over some tobacco growers who continue to deliver their crop without having made bookings. "Farmers are still bringing unbooked crop and these may fail to sell the same day," he said. Farmers, said Mr Mutambanesango, still required to be told the advantages of booking and registration before making deliveries. MTF public relations manager Ms Kholiwe Mudakureva said tobacco volumes had risen to over 1 000 bales per day and stakeholders were content with prices. She said the highest price yesterday was US$4,67 per kg with the lowest price pegged at US$1,60 per kg. "So far everything is going on well. We have not had any problems. "Farmers are getting their cheques in a short period and banks have enough cash to pay farmers," she said. Since the opening of the selling season, few farmers are sleeping at the auction floors unlike in the past when farmers had to wait for several days to sell their crop or get their money. Enditem