Zimbabwe Reports Better Tobacco Deliveries In Current Crop Year

Source from:  BERNAMA (Malaysian National News Agency) (my)  03/07/2013

Deliveries of tobacco in Zimbabwe's current crop year has continued to rise with 3.4 million kg having been sold to date at an average price of US$3.30 per kg compared with 2.9 million kg at an average price of US$3.48 per kg during the same period last year, according to the Tobacco Industry and Marketing Board (TIMB).

"Weekly sales for both auction and contract continue to increase steadily as more farmers deliver their crops for sale. To date, auction floors have sold 3.4 million kg at an average price of US$3.30 per kg," the TIMB said in a statement here Tuesday.

The tobacco selling season opened on Feb 13 and so far contractors have bought 6.4 million kg at an average of US$3.49 per kg. Year to-date sales are now 9.8 million kg averaging US$3.42 per kg.

During the same period in the 2011 season, 9.6 million kg were sold at an average price of US$3.60 per kg.

Meanwhile, the increase in production which the country anticipates to record is expected from dry land farmers most of who are still busy harvesting their crop.

The farming season had been compromised by the late onset of the rains, a development that saw farmers planting their crop late.

Since the adoption of multiple foreign currencies the tobacco industry has become one of the fastest to recover from the economic meltdown of the past decade. The sector has been on a rebound as over 70,000 farmers registered to grow the crop this season.

Zimbabwe exports most of its tobacco to China, Britain, South Africa, Belgium and the United Arab Emirates (UAE). Enditem