Zimbabwean News You Can Trust
At least 122.5 million kilogrammes of tobacco worth a cumulative total of US$367.9 million have so far been sold at the country’s auction and contract floors since the selling season opened in March.
This was reviewed by statistics shown by the industry regulator.
In a trading update on day 33 of sales, the Tobacco Industry and Marketing Board said sales had gone up 32,1 percent from US$278.5 million recorded in the same period last year.
The average price for auction and contract floors stood at US$3 per kg which is 0.77 percent higher than the US$2.98 of the 2022 marketing season.
The highest price stood at US$6.20 per kg while the lowest was at $0.10.
Rejected bales increased to 42,403 from 33,611 recorded in the same period last year.
Sales are being conducted in Harare as well as five centres in Karoi, Mvurwi, Bindura, Marondera and Rusape.
Zimbabwe expects to produce 230 million kilogrammes of tobacco this year, up from 212 million kilogrammes from last year and this is attributed to good rains.
About 98 percent of the total tobacco production was exported to countries such as China in its raw form, according to statistics released by the government.
Tobacco is the country’s second largest foreign currency earner after gold.