Zimpapers Logo

Harare Bureau
Tobacco sales have reached $33 million since the selling season started 10 days ago, surpassing $23 million realised during the same period last year.

This is an increase of 46 percent.

Tobacco sales are likely to surpass the projected season target of 205 million kgs following an impressive delivery rate averaging one million kgs per day at the country’s auction floors.

This year’s crop has fetched an average price of $2,56 per kg, representing a seven percent increase from last year’s price which was $2,40 per kg during the same period.

According to figures released by the Tobacco Industry and Marketing Board, 176 848 bales have been sold so far, an increase from last year’s 117 962.

This is an increase of close to 50 percent.

TIMB yesterday said 13 million kgs of the golden leaf have so far been sold at auction and contract floors since the beginning of the marketing season.

The highest price was $6 per kg.

So far 13 618 bales have been rejected, compared to 2 981 last year, mainly for underweight, badly handled or being oversized.

A total of 190 466 bales have been laid.

TIMB said 39 million kg have been exported, earning the country about $192 million.

A number of challenges have been encountered since the season begun.

“There is poor grading and bale presentation, increase in rejection of wet bales due to incessant rains, slowness of the e-auction system, as well as the issues of banks failing to meet the withdrawal limit as stipulated by RBZ,” said the organisation.