Zimbabwe Earns $87 Million From Tobacco

Source from:  Harare, Zimbabwe, 04/29/2005

A tobacco industry group in Zimbabwe said Wednesday the country had earned US$87.4 million from exports of the crop in the first quarter of 2005, but exported volumes dropped marginally compared to the same period in 2004. In a statement, the Tobacco Industry Marketing Board (TIMB) said a total of 24.5 million kilograms of tobacco were exported in the first quarter, down from 26.4 million kilograms over the same period last year. It did not say why exported volumes dropped. TIMB said the bulk of the exports were to Asia, with China alone taking 10.9 million kilograms of tobacco during the period. Europe followed in second place, and Africa a distant third. Tobacco is Zimbabwe`s main export, and the country this year expects to export at least 100 million kilograms of the crop. TIMB said half of the exports were done in February, accounting for 12 million kilograms. Last year, the country earned US$140 million from tobacco exports. Enditem