Zimbabwe: Tobacco Auction Ends

Source from:  Fingaz 07/20/2012

AFTssful 2012 tobacco marketing season, Zimbabwe's auction floors will close on Friday July 27 2012. The Tobacco Industry and Marketing Board (TIMB) anno-unced this week that the 2012 auction flue-cured tobacco marketing season would be accepting the final tobacco deliveries for 2012 on Thursday, July 26. "All growers who sell through auction floors are therefore advised to complete grading and baling operations by Wednesday July 25 at the very latest," TIMB chief executive officer Andrew Matibiri said. The flue cured auction tobacco clean up sales will be held on August 22. Depending on the volume of deliveries the clean up sale may be continued for more than one day, until all delivered tobacco has been sold. "Because of the volumes that are still being received, contract sales will continue until further notice. Nonetheless, contracted growers are advised to finalise the grading and marketing of their tobacco," Matibiri said. Bookings and sales of declared defective bales will be conducted on July 25 and these include mixed and mouldy bales. The auction floors will be closing after 113 days since February 15 when the first bale was sold for US$4,45 per kilogramme. By day 102, a total of 135 million kg of tobacco had been sold at an average price of US$3,70 compared to the same period last year when 125 million kg at US$2,75 per kg. Already this year's production has surpassed last year's output of 132 million kg by over two million kg. The continuous increase in tobacco production has been attributed to an increase of the number of tobacco growers. High prices being offered for tobacco have also attracted many farmers to grow the crop resulting in small scale farmers producing the bulk of the tobacco passing through the auction floors. Enditem