Zimbabwe: Tobacco Exports Reach $164 Million

Source from:  Nehanda Radio‎  07/21/2014

Zimbabwe has exported 37,5 million kilogrammes (kg) of tobacco worth over $164 million to 44 countries, with Belgium being the top buyer, latest Tobacco Industry and Marketing Board (Timb) statistics indicate.

Belgium purchased a total mass of 10,8 million kg of exported tobacco worth $50,5 million at an average price of $4,68 per kg.

United Arab Emirates came in at second place with 5,6 million kgs worth $16,1 million, but at a lower average price of $2,86 per kg.

South Africa, which maintained a pole position last year, came in a distant third after purchasing 4,3 million kgs to the value of $19,5 million at an average price of $4,47 per kg.

China occupied fourth position with a recorded total of 3,6 million kgs of tobacco to date worth $23,2 million at a higher average price of $6,39 per kg, while Russia was fifth following the  purchasing of a total mass of 2,2 million kgs worth $7,4 million at an average price of $3,34 per kg.

This comes after tobacco production in the southern African nation surpassed the 210 million kg mark for the first time in 14 years as the rebound in output continues, driven by small-scale farmers.

The last time output surpassed 210 million kg was in 2000 when it reached 227 726 000kg. By Tuesday this week, 210,6 million kgs had gone under the hammer at the country's three auction floors — Boka, Premier and TSF — raking in $668 million. Enditem