Zimbabwe: US$465m Tobacco Sold

Source from:  Financial Gazette (zw) 06/29/2012

FLUE-cured tobacco worth US$465 million had been auctioned across the country's three auction floors by the end of last week, the Tobacco Industry and Marketing Board (TIMB) said this week. US$321 million worth of the golden leaf were sold during the same period last year. The TIMB said 125 million kilogrammes of tobacco had gone under the hammer during the review period.The sales volumes translated into a 6,32 percent change from the same period last season when a total of 118 million kg were sold. The current marketing season started on February 15, 2012.　The seasonal average price increased from US$2,73 per kg last year to US$3,72 per kg this year. TIMB statistics indicated that the daily average price was US$3,52 compared to US$3,13 per kg last year. A total of 16,3 million kg of tobacco worth US$59,2 million at an average price of US$3,64 per kg had passed through the Tobacco Auction Floors during the review period. Boka Tobacco Auction Floors had auctioned 14, 5 million kg worth US$ 51, 2 million at an average price of US$3,53 per kg. Millennium Tobacco Floors auctioned 8,5 million kg valued at US$30,5 million at an average price of US$3,61 per kilogramme. Premier Tobacco Floors had sold nine million kg worth US$32, 7, million at an average price of US$3,63 per kg, said the TIMB. Contract sales amounted to 76, 6 million kg worth US$290, 6 million at an average price of US$3,79 per kg. Burley sales show that a total of 41 368 kg worth US$ 93, 4 million had been sold compared to 426 407 kg worth US$522 140 last year. Dark aired tobacco sales had declined to 145 456 kg by June 7, 2012 worth US$223 698 from 293 873 kg worth US$195 961 sold during the same period last year. The report said seasonal exports of tobacco as of June 22 were 31,3 million kg with a value of US$127, 4 million. The average price for exports was US$4,07 per kg. China dominated the country's export destinations followed by the United Kingdom, South Africa, Indonesia, UAE, Mauritius, Russia, Belgium, Hong Kong and Sudan. Enditem