Tobacco deliveries up 29pc

Tobacco deliveries have increased by 29 percent with 942 860 kilogrammes worth $193 million having been sold since the marketing season started

Tobacco deliveries have increased by 29 percent with 942 860 kilogrammes worth $193 million having been sold since the marketing season started

Deliveries of tobacco crop at both the auction and contract floors have significantly increased from the daily average sales of three million kilogrammes to the four million kilogrammes per day.

Latest statistics released by the Tobacco Industry and Marketing Board show that total sales have increased by 29 percent with 942 860 kilogrammes worth $193 million being sold since the marketing season started.

Farmers have to date delivered 70,4 million kilogrammes of tobacco which is a 28 percent increase compared to 55 million kg last year. Bales laid are now at one million against 58 152 that have been rejected.

Contract sales have the largest share of sales with 56 million kilogrammes worth $155 million having been sold at the contract floors while 14 million kilogrammes worth $38, 5 million were sold through the auction floors.

At the close of day 28 the average price was pegged at $2, 75 per kg with the highest price being $6 per kg. Seasonal exports are now at 41,4 million kilogrammes earning the country $201 million.

At the same time last year seasonal exports were at 36,8million kilogrammes worth $227 million which indicates a decrease by 25 million due to the reduction in prices.

2016 /17 farmer registration has increased by 88 percent from 9674 in 2016 to 18 188 this year.

This season has been characterised by a number of challenges which include cash shortages as banks failed to meet the withdrawal limit set by the Reserve Bank of Zimbabwe and the e-marketing failing to operate as expected

Source :

herald

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