Zim Exports US$111,6m Tobacco

Source from:  The Herald (zw) By Leonard Makombe  07/01/2004

A TOTAL of 32,5 million kilogrammes of tobacco valued at US$111,6 million was exported last month. Figures released by the Tobacco Industry and Marketing Board have shown that most of the "gold leaf" found its way to the European Union. "The European Union is still the leading importer followed by the Far East, recording seasonal volumes of 12 000 tonnes and 11 000 tonnes respectively," said TIMB. Tobacco produced in Zimbabwe finds its way to at least 30 destinations around the world. TIMB added that the reduction in the total amount of tobacco that was realised during the 2003-04 season had also seen a downswing in activities among the processors of the crop. "Due to the smaller crop available this year, merchants have not yet begun processing at full steam and, therefore, monthly export volumes remain low for the moment," said TIMB. It is projected that all the tobacco producing companies worldwide would this year produce a total of 3,7 billion kg of the gold leaf, an increase of four percent on the 2003 crop yield. Despite the increase in the total tobacco produced on the international market, Zimbabwe has seen a 25 percent decline in total production. It is estimated that at least 60 million kg of the gold leaf would go under the hammer this season, down from 80 million kg last year. Tobacco is Zimbabwe's single largest foreign currency earner, accounting for at least 35 percent annually. Enditem