Zimbabwe Sales Continuing

Source from:  Tobacco Reporter 05/04/2017

Flue-cured tobacco growers in Zimbabwe had delivered 70.4 million kg of tobacco since the marketing season started on March 15, up 28 percent from the that delivered during the corresponding period of last year, according to a TMA abstract of a bh24.co.zw story.

It wasn’t clear from the abstract what was the latest sales day that the Tobacco Industry and Marketing Board (TIMB) sales data covered, but the bh24 story was dated May 1.

Contract sales, which accounted for 56 million kg of the total sales, were said to have been worth US$155.0 million, giving an average price of US$2.77 per kg.

Auction sales, which accounted for 14 million kg of the total, were said to have been worth US$38.5 million, giving an average price of US$2.46 per kg.

Unusually, no comparative figures showing last year’s sales data were provided.

However, reports in May 2016 after just more than 60 million kg had been sold had the TIMB saying that the average price had increased by 2.2 percent to US2.82 per kg (61.2 million kg sold for US$172.4 million) during the first 30 days of the 2016 sales season, from US$2.76 per kg (42.8 million kg sold for US$118.0 million) during the same period of 2015.

The highest contract price paid during the first 30 days of the 2016 selling season was US$6.25 per kg, whereas the highest auction price was US$4.99 per kg.

The Bulawayo Chronicle reported last year that the 2015 flue-cured marketing season had closed with growers having been paid an average of US$2.94 per kg for 191.9 million kg.

In 2014, growers had sold 209.1 million kg for an average price of US$3.17 per kg.  Enditem