Harare (New Ziana) – At least 245.7 million kilograms of tobacco worth US $740.9 million has been sold so far at auction and contract floors in the country since the selling season opened in March, statistics from the industry regulator show.
Tobacco is the country’s second largest foreign currency earner after gold. Farming of the golden leaf is arguably one of the success stories of agriculture in the post-land reform era.
In an update on day 58 of sale, the Tobacco Industry and Marketing Board (TIMB) said sales had gone up 55.8 percent from US$475.5 million recorded in the same period last year.
Of the total volume of tobacco sold, 228 million kilogrammes were marketed via the contract system, while the remainder went under the hammer.
The average price for auction and contract floors stood at US$3.02 per kg, which is 0.11 percent higher than the US$3.01 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 83 551 from 60 964 recorded in the same period last year.
Sales are being conducted in Harare as well as five decentralised centres in Karoi, Mvurwi, Bindura, Marondera and Rusape.
Tobacco sold so far has already surpassed the government set target of 230 million kg.
New Ziana
