Great Indicator :Zimbabwe Tobacco Exports up 14 Percent

TobaccoVolumes of tobacco which has been exported now stand at 42,5 million kg, a 14 percent rise from those exported in the corresponding period last year, statistics that the industry regulator released show.

In its weekly tobacco bulletin, the Tobacco Industry and Marketing Board (TIMB) said revenue from tobacco exports for 2017 currently stand at $204,3 million, an 11 percent drop from $228,7 million grossed in 2016 during the same period.

The tobacco is being exported at an average price of $4,81 per kg. Of the 46 countries that buy Zimbabwean tobacco, China, Belgium, South Africa and Korea have been the major buyers of the flue-cured crop.

China remains the top destination for Zimbabwean tobacco, buying 13,8 million kg worth $114, 4 million at an average price of $8,28 per kg.

The second largest buyer of Zimbabwe’s tobacco, Belgium imported 4,7 million kg valued at $7,9 million while exports to Korea were 2,3 million kg valued at $10,6 million.

South Africa has topped the buyer’s list in Africa, buying 3,2 million kg of the golden leaf valued at $6,7 million.

Meanwhile, TIMB said deliveries at both auction and contract sales rose significantly from a daily average of three million kg to current four million kg per day.

TIMB said at least 46,9 million kg of tobacco worth $125,8 million has been sold through both contract and auction systems after 21 days of selling.

The tobacco is being sold at an average price of $2,68 per kg.

Zimbabwe anticipates an output of 202 million kg of tobacco during the 2016 /17 selling season

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