Tobacco exports top US$146 million

24 Jan, 2024 - 15:01 0 Views
Tobacco exports top US$146 million

The Sunday Mail

Online Reporter 

ZIMBABWE has earned over US$146 million from 21 million kilogrammes of tobacco exported mainly to China as at January 19, 2024.

During the same period last year, close to 8,8 million kgs of tobacco worth just over US$36 million were sold.

Statistics from the Tobacco Industry Marketing Board (TIMB)’s report show that China accounted for over 16,5 million kgs valued at US$131,6 million for which the average price was at US$7.94

Exports to African countries were at 2,2 million kgs of tobacco worth US$5 million.

With an estimated 350 million smokers, China has been spending over US$200 million per annum on Zimbabwean tobacco and offering better prices over other markets.

The European Union market recorded the least, having purchased 923 000 kg worth US$1,1 million at an average price of US$1,28 per kg.

The Middle East market recorded an average price of US$3,19 after having bought 806 000kg of tobacco worth US$2,5 million while the Americas bought 415 800kg worth over US$2 million at an average price of US$4,95 per kg.

With the 2023-24 summer cropping season having been considered an El Niño affected season, farmers registered to grow tobacco have dropped to 113 161 growers compared to 147 867 growers who had registered during the same period last season.

Despite that, a preliminary survey by TIMB shows that the tobacco crop is in good condition following the rains that have been received countrywide since mid-December.

 

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