Tobacco exports rake in $161.5m

Oliver Kazunga Senior Business Reporter
ZIMBABWE has earned $161.5 million from the export of 20.6 million kilogrammes of tobacco since the beginning of the month.

Statistics from the Tobacco Industry and Marketing Board (TIMB) indicate that as of Friday last week, 18 countries imported the country’s golden leaf.

The data further reveals that this year’s export earnings and volumes were above the 2014 figures during the same period.

During the comparable period last year, five million kilogrammmes worth $22.3 million were exported at an average price of $4.40 a kilogramme.

China, which was the major consumer of flue-cured tobacco from Zimbabwe, has so far spent $148.2 million on 17.2 million kilogrammes at an average price of $8.64 a kg.

On the second spot was the neighbouring South Africa that has so far spent $3.39 million on 1.56 million kg at an average price of $3.21 per kg.

The United Arab Emirates and Belgium have so far consumed 650,000kg and 393,470kg respectively.

UAE has spent $2.6 million on Zimbabwe tobacco imports at an average price of $3.97 a kilogramme while Belgium has bought the golden leaf at 4.65 per kg, forking out $1.8 million.

The tobacco sector continues to be critical in Zimbabwe’s economy with export earnings last year surpassing $730 million.

Meanwhile, 88,613 growers have registered to grow tobacco in the 2015 season compared to 87,281 during the same period last year.

Matabeleland province, which is slowly becoming a tobacco-growing region, has seen 13 farmers registering to grow the crop this season.

TIMB chief executive officer Andrew Matibiri last week said that they were yet to come up with the date to start the 2015 tobacco marketing season, which usually begins mid February.

Due to the late rainy season, tobacco selling season this year would be delayed as only the irrigated crop was presently being cured while the rain-fed crop was at different stages of development.

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