Zimbabwe Misses Tobacco Production Target

Source from:  Zimbabwe Herald (zw)  08/02/2012

Zimbabwe narrowly missed the production target for tobacco when at least 140 million kilogrammes worth US$514,3 million were sold in the just ended selling season, up 12 percent from last year. Statistics obtained from the Tobacco Industry and Marketing Board yesterday showed that the country narrowly missed the target of 150 million kg. But while auction sales ended last Friday, there is still room to close the gap as contract sales are still going on while a mop-up sale will also take place on August 22. The TIMB has said contract sales would continue until further notice. TIMB has also said mop-up sales, held to allow farmers to sell their remaining crop, may be held for more than one day depending on volumes delivered. Of the 140 million kg sold this season, 88 million kg were handled through the contract system while 52 million kg went under the hammer through the three auction floors. The golden leaf was sold at an average price of US$3,67 per kilogramme which was higher than last year’s US$2,75 per kilogramme. Volumes of rejected tobacco went down to 5,56 percent from 6,95 percent last year as farmers appear to be gaining more experience in packaging their crop. Tobacco is one of Zimbabwe’s major agricultural exports, accounting for 10,7 percent in the half year to June. Major export destinations for the country’s golden leaf include China, the United Kingdom, South Africa, Indonesia, yje United Arab Emirates, Mauritius and Russia. Enditem