Slightly over 4 000 kg of tobacco sold

tobacco
Harare – At least 4 023 kilograms of tobacco worth $10,1 million has been sold through both auction and contract  systems since the selling season commenced last week, the industry  regulator has said.

The volume of tobacco sold so far is about 20,1 percent higher than 3 349 kg valued at $6, 8 million sold during the same period last year.

Statistics from the Tobacco Industry and Marketing Board (TIMB) show that as at the fifth day of sales, tobacco was being sold at an average price of $2,53 per kilogramme, representing a 23 percent increase from $2,03 during the same period in 2016.

According to the TIMB, tobacco is fetching the highest price of $5,40 per kg at the contract floors and $4,99 per kg at auction sales.

So far, the lowest price of $0,10 per kg has been recorded at both  auction and contract sales floor.

TIMB also said reaping of the late dry land tobacco is still in progress while grading of the irrigated crop is also underway.

The farmers are however facing several challenges, chief among them shortage of curing fuel (coal and firewood), poor curing, grading and storage facilities especially for small scale farmers as well as bad road network to the market resulting in increased transport costs.

This year,  tobacco is being sold using the electronic marketing system  to stop price collusion and sharing by buyers as well as other  unscrupulous practices associated with the traditional way of buying  tobacco.

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

Source :

Check Also

Zimbabwe: Young Women Rallied to Participate in Economy

By Rumbidzayi Zinyuke First Lady Amai Auxillia Mnangagwa has challenged young women to actively participate …

This function has been disabled for Zimbabwe Today.