Zimbabwe: Flue-cured Tobacco Sales Increase

Source from:  News Day  06/18/2013

FLUE-CURED tobacco sales for the last 83 days of the ongoing marketing season increased by 22% to $548 million compared to $449,5 million recorded during the same period last year due to improved output of the cash crop, official figures have shown.

Figures availed by the Tobacco Industry Marketing Board (TIMB) show that during the period under review, a total of 148 million kilogrammes (kg) of tobacco were sold, indicating a 23, 07% increase from 120,5 million kg in 2012.

The crop was being sold at the three participating auction floors — Tobacco Sales Floor (TSF), Boka Tobacco Auction Floors (BTF) and Premier Tobacco Floors (PTF)— at an average price of $3, 70 per kg.

The statistics show that tobacco sales have since surpassed the final output of 144,5 million kg in 2012. In the period under review, a total of 2 022 383 bales were laid while 87 020 were rejected for various reasons which include poor storage.

TIMB figures also showed that 199 792kg of burley tobacco has been generating $298 442. The crop was being sold at an average price of $1,49 per kg.

According to TIMB weekly report, the seasonal average price for the current marketing season was likely going to slide down due to the poor quality of deliveries.

TIMB projects that at least 170 million kg of the golden leaf will be delivered to the country's auction floors as the crop maintains its position as the second top foreign currency earner after mining. Tobacco crop, unlike other crops, has since, the agrarian reform which began at the turn of the millennium, leaf grown in leaps and bounce.

To date, about 75 373 growers have delivered tobacco against a total of 90 692 growers registered for, 2013 season.

During the same period last year, about 69 720 had registered. Enditem