Zimbabwe: TIMB Records Close to $300 Million in Sales

Source from:  News Day  04/23/2013

THE Tobacco Industry and Marketing Board (TIMB) has recorded close to $300 million from the sales of the golden leaf as more farmers deliver their crop to the country's three auction floors.

TIMB shows that as of Wednesday (Day 44), revenue had reached $289 million from 77,787 million kilogrammes of tobacco sold.

The total value is 25, 93% above last year's figure and 28, 06% above last year's output.

The sales comprised 46,619 million kg contract and 31,168 million kg auction sales.

On Friday, Tobacco Sales Floor handled 11,8m kg followed by Boka Tobacco Auction Floors at 11,3 million kg and Premier Tobacco Floor with 7,9 million kg.

On the day's trade TSF bought tobacco at an average price of $3, 70 per kg, BTF at $3, 61 per kg and PTF at $3, 56 per kg.

At least 1 099 020 bales were accepted, while 48 954 bales had been rejected for various reasons.

According to TIMB weekly tobacco report, the current 2013 seasonal sales were 16% firmer than the prior year at the same time.

TIMB said to date, about 51 083 growers have delivered tobacco against 86 941 growers who have registered for 2013 season. During the same period last year about 64 293 had registered.

TIMB projects 170 million kg of the golden leaf to be brought to the auction floors this season.

The African Development Bank in its monthly economic review for March said there was need for the government and other stakeholders to conduct continuous training programmes with farmers, particularly on grading and packaging for the market as more farmers were venturing into the tobacco. Enditem