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ZIMBABWE

Tobacco sales up USD 95 mln

12 Jun 2018. Farmers had sold USD 515 million (EUR 436 million) of tobacco leaf by the close of day 52 of the 2018 marketing season, an increase of USD 95 million on gross sales for the comparable period in 2017, The Herald reported, citing Tobacco Industry and Marketing Board (TIMB) data.

177.8 million kg of tobacco leaf had been sold over the period for USD 515.1 million. During the comparable period in 2017, 145.8 million kg were sold for USD 420.6 million.

So far, TIMB data shows the average price paid for auction floor sales has been USD 2.79/kg, while the average price for leaf sold under contract farming has been USD 2.90.

The average overall price of tobacco leaf sold so far this season, at USD 2.90/kg, is 0.45 per cent higher than the 2017 overall average price of USD 2.88.

Reuters reported that TIMB data showed Zimbabwe had so far earned USD 153.6 million from tobacco exports totalling 36.1 million kg, since the beginning of 2018. The main export destinations have been Indonesia and China. “Tobacco has been exported to 47 countries so far [this year]. China accounted for over 7.8 million kg valued at USD 50.1 million while Indonesia bought 4.6 million kg valued at USD 21.4 million,” TIMB’s weekly bulletin read.