Zimbabwe: Price Up US$0.02 Per KG

Source from:  Tobacco Reporter 08/01/2017

The average price for flue-cured tobacco in Zimbabwe is running at US$0.02 per kg ahead of what it was in 2016.

According to a story in The Herald today, growers had so far sold 180 million kg of flue-cured for $532 million per kg, at an average price of US$2.95 per kg.

By the same stage of last year’s sales season, they had sold 193 million kg for $566 million, at an average price of US$2.93 per kg.

Of this year’s sales, 149 million kg have been sold under the contract system for US$444 million, at an average price of US$2.98 per kg, while 31 million kg has been sold at auction for US$88 million, for an average price of US$2.84 per kg.

Although the industry is expecting to have sold about 206 million kg by the end of this season, up from 201 million kg in 2016, flue-cured sales are now being conducted only once a week.

Early this month, the Tobacco Industry and Marketing Board (TIMB) reduced the number of selling days to two – on Tuesdays and Thursdays – and now, sales will be conducted on Wednesdays only.

In a statement on Tuesday, the TIMB board said final clean-up sales would be held on August 11. Enditem