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Tobacco exports up 10 percent

The country has exported 45,6 million kilogrammes of flue-cured tobacco worth $214,7 million since the beginning of the year.

The 45,6 million kg are 9,6 percent more than the 41,7 million kg for the same period last year. Most of the tobacco being exported was delivered last season.

Statistics released by the industry regulator Tobacco Industry Marketing Board, however, show that there was a slight dip in revenue from exports of $214,7 million from $243,6 million realised during the same period last year.

China, Russia, Belgium, United Arab Emirates and South Africa are among the top buyers of the flue-cured tobacco that is being bought at an average price of $4,71.

China remains the top destination for Zimbabwean tobacco after it imported 13,8 million kg worth $115 million at $8,28 per kg.

The second largest buyer is Belgium which bought 4,8 million kg valued at $7,9 million while exports to Russia have significantly risen to 3,3 million kg worth $7,9 million. South Africa is the top African buyer after importing close to 3,3 million kg of the golden leaf for $6,9 million.

Meanwhile, TIMB said there has been a significant increase in deliveries to both auction and contract floors from a daily average of 3 million kg to 4 million kg per day. TIMB said at least 104 million kg of tobacco worth $293 million has been sold through both contract and auction systems after 36 days of selling.

The tobacco is being sold at an average price of $2,81 per kg compared to 2,87 in 2016, which is a 2 percent decrease.

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