An opening ceremony in Harare kicked off proceedings while contract sales will begin from tomorrow. The Tobacco Industry and Marketing Board (TIMB) has licensed the three traditional auction floors in Harare: Boka Tobacco Floors, Tobacco Sales Floor and Premier Tobacco Floors, according to The Herald.
Only a small amount of the crop is sold at the auctions with most farmers choosing to sell through the contract system and several contracting companies expected to operate out-of-Harare sale points, as was the case in the previous year.
The Zimbabwe Tobacco Association (ZTA) stated that although yields are down, the quality of the crop is better than last year with growing conditions resulting in a lighter, soft-natured and more mature crop.
Tobacco farmers are expecting the current season to run smoothly compared to last year’s season, which was fraught with payment issues. This season, farmers will be paid 60 per cent of their earnings in foreign currency and 40 per cent in local currency using the auction rate, according to The Herald.