Zimbabwe: Tobacco Sales Improve

Source from:  Financial Gazette (Harare) 03/11/2012

FLUE-CURED tobacco worth US$34 million weighing 9,7 million kilogrammes has been auctioned since the start of the marketing season on February 15, indicating a 54 percent rise from last season when a total of 7,8 million kg worth US$22,5 million was sold during the same period. Tobacco sales revenue continued to peak on day 13 of the 2012 selling season owing to the improved quality of flue cured tobacco produced this year. The daily average price continued at US$3,57 per kg, compared to US$3,20 during the same period last year. Statistics from the Tobacco Industry and Marketing Board show that from the Tobacco Sales Floor (TSF), a total of 1 122 711kg of tobacco worth US$3 929 183 with a daily average price of US$3,50 per kg had passed through the auction floors. Boka Tobacco Auction Floors (BTF), had, by day 13, auctioned 1 019 334kg worth US$3 476 435 at an average price of US$3,41 per kg. Millennium Tobacco Floors (MTF) auctioned 416 918kg worth US$1 512 812 at an average price of US$3,36 per kilogramme. Newcomers, Premier Tobacco Floors (PTF), had sold 291 121kg worth US$1,1 million at an average price of US$3,45 per kg. Contract sales amounted to 6 791 558kg worth US$24 754 817 at an average price of US$3,64 per kilogramme. So far, a total of 11 488 bales have been laid at both the auction and contract floors while 107?696 bales have gone under the hammer with the remaining 6 585 bales being rejected. On day 13, the highest price recorded from the contract sales was at US$5,20 per kg; TSF with US$4,68; MTF US$4,90; BTF US$4,87; and PTF US$4,66 per kg. The lowest price was US$0,10 per kilogramme from the contract sales and TSF while BTF had the lowest price of US$0,60; MTF US$0,40; and PTF US$0,20 per kg. Cases of unregistered farmers coming to the floors with tobacco that is not booked have, however, remained the major concern at all floors. Enditem