According to the Tobacco Industry Marketing Board (TIMB), tobacco sales from the 2022 marketing season raked in a total USD 650 million, up from USD 589 million last year, representing an increase in both value and volumes, reports The Sunday News.
In a statement, announcing the close of the 2022 tobacco marketing season, TIMB appreciated efforts of all tobacco growers put in the work. “TIMB wishes to advise all stakeholders that the final sale of tobacco for the 2022 tobacco marketing season was 21 October 2022. Therefore, all contract and auction floors are closed. A total of 212,711,370 kilograms of tobacco had been sold at a value of US USD 650,308,534. This is an increase when comparing to 211,100,219 kilograms sold during the same period in 2021 at a value of USD 589,573,827,” the statement said.
“The Board greatly appreciates the efforts of all tobacco growers who have put in the work to make the season a resounding success. However, we are aware that some tobacco growers have not yet been paid for tobacco sold during the 2021/ 2022 marketing season and this has affected timeous preparations for the 2022/ 2023 season.”
TIMB said it was working to resolve the issue to ensure that all outstanding payments are disbursed. “Together with the Ministry of Lands, Agriculture, Fisheries, Water and Rural Development, the Board aim is to bring order and sanity to the industry so as to achieve a USD 5 billion industry by 2025. Orderly marketing remains fundamental to the continued success of the tobacco industry.”
Tobacco remains an important crop for the country’s economy, contributing to more than USD 1 billion in exports, and the agriculture subsector is expected to become a USD 5 billion industry by 2025.