Zimbabwe Tobacco Sales Top Last Season''s Figure

Source from:  Bernama 03/10/2013

Zimbabwe's tobacco industry has earned US$51.7 million since the marketing season began in February, an increase from 1.4 million over the same period last year.

The sector sold 14.6 million kg of tobacco at an average of US$3.54 per kg, up from 13.8 million kg sold last year, Zimbabwe's news agency New Ziana reported.

Statistics from the Tobacco Industry and Marketing Board show at least 9.58 million kg of tobacco were sold through contract sales while the remainder went under the hammer.

Last year, Zimbabwe produced about 144.5 million kg of tobacco and raked in  US$527.6 million sales, surpassing the projected 130 million kg.

Since the adoption of multiple foreign currencies, the tobacco industry has become one of the fastest to recover from the economic meltdown over the last decade.

The sector has been on a rebound as over 70,0000 farmers have registered to grow tobacco this season.

Tobacco is one of Zimbabwe's major agricultural exports and account for 10. 7 percent of gross domestic product.

Major export destinations include China, UK, South Africa, Indonesia, the United Arab Emirates, Mauritius and Russia. Enditem