Reduced Output Threatens Tobacco Auction Sales

Source from:  NewZimbabwe.com By Agencies 06/23/2004

REDUCED tobacco output could force an early closure of auction sales in Zimbabwe, Tobacco Auction Center general manager Kennedy Chiramba has said. The marketing season was likely to end by mid August since halfof the projected crop had already gone under the hammer. "This season is likely to be shorter than normal. We should be done by mid August," said Chiramba. A total of 60 million km of tobacco is projected to pass through auction floors this year, down from 80 million kg last year. The selling season normally opens around April and ends in October of every year. But a decline in tobacco production is likely to result in an early end to the marketing season, as 31 million km of tobacco have so far been sold. Earnings in US dollar terms have also remained lower compared with those of last year. However, tobacco auctioneers have expressed satisfaction with the quality of this year's crop. "The quality is very good and even the buyers are not complaining," said Chiramba. Tobacco is the country's main export, but is slowly being overtaken by cotton and platinum. Enditem