Zimbabwe: Tobacco Exports Rake in U.S.$94 Million

Source from:  The Herald  04/25/2013

ZIMBABWE has so far earned US$94 million from tobacco exports to different countries since the beginning of the year.

The US$94 million was realised from the sale of 25 million kilogrammes of tobacco at an average price of US$3,74 per kg.

This is almost double the US$59 million realised from the 16 million kg that was exported during the same period last year at an average price of US$3,58 per kg.

Latest statistics from the Tobacco Industry and Marketing Board show that South Africa paid US$24,5 million for 8,1 million kg of tobacco at US$3,04 per kg.

During the same time last year, South Africa had taken up 1,7 million kg of tobacco worth US$5,8 million at US$3,28 per kg. The second highest importer in terms of value of tobacco bought is China, which continues to buy it at very lucrative prices.

China has so far paid US$16,6 million for 2 million kg at US$8,76 per kg. During the same period last season China paid US$14,8 million for 2,3 million kg at US$6,35 per kg.

The United Arab Emirates is the third highest importer after buying US$5,6 million worth of tobacco amounting to 2,4 million kg at an average price of US$2,27 per kg.

Last season the Arab state bought tobacco worth US$1,6 million. This was after exporting 412 000kg at a price of 3,94 per kg

Belgium has so far taken up 2 million kg worth US$5,1 million at an average price of US$2,56 per kg, which is a slight improvement from 1,6 million kg worth US$2,3 million at US$1,43 per kg.

Sudan has significantly increased its uptake of Zimbabwean tobacco by 600 000kg with 1,5 million kg worth US$5,36 million at an average price of US$3,46 per kg from last year's 993 300 worth US$3 million at US$3, 04 a kg.

Agriculture experts contend that the firming in tobacco sales in the country is a reflection of the high prices the golden leaf is fetching on the international markets.

Zimbabwe is on course to regaining its status as a major tobacco producer as the agrarian reform has seen an increase in the number of farmers producing the crop. Enditem