So far this season, 17 million kg of tobacco have been sold at Zimbabwe’s auction and contract floors bringing in USD 50.9 million which is less than last year, reports NewsDay.

During the same period last marketing season, 21.9 million kg of tobacco worth USD 62.1 million were sold. This represents a drop in volume by 22 per cent and of value by 18 per cent.
At the same time, prices per kg went up by 4.72 per cent to USD 2.97 when compared to the year before. In 2022, Zimbabwe produced 212 million kg and is projected to produce 300 million kg this year, reports NewsDay.
Patrick Devenish, chairperson of the Tobacco Industry Marketing Board (TIMB) mentioned that the industry was working with the central bank to ensure tobacco growers would get full value for their crop.
“All tobacco merchants and contractors have signed it and have been made aware that they are supposed to pay growers within 48 hours of sale completion. Failure to do so will be met by stiff penalties, suspension, or cancellation of operating licences. Therefore, we encourage tobacco growers to notify TIMB if they are not paid within 48 hours,” he said.