Zimbabwe’s tobacco exports increased by 231 per cent in the week ending 16 February, earning the country USD 351.1 million, reports NewsDay Business.
Statistics from the Tobacco Industry and Marketing Board (TIMB) show that the country exported 52.1 million kg of tobacco during the period under review, compared to 21.6 million kg in the same period last year.
According to the report, the Far East remains the largest buyer of tobacco with 38.8 million kg of tobacco worth USD 307.7 million. The average selling price per kg of the golden leaf was USD 7.92 compared to USD 7.09 per kg in the same period last year. Africa was the second largest buyer this year, importing four million kilograms worth USD 12 million, almost the same value and volume as the previous year. Exports to Europe remained low, amounting to 1.1 million kg worth USD 5.3 million at the end of the period. However, this is more than the 401,000 kg worth USD 2 million exported in the same period last year.
According to the TIMB, 129,276 growers have so far registered for the coming tobacco marketing season, which starts on 13 March. In the same period last year, 148,413 growers had registered.