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Africa Business News of Tuesday, 15 June 2021


Zimbabwean tobacco sales rake in US$404 million

A farmer with his tobacco crop A farmer with his tobacco crop

Tobacco sales have raked in US$404 million as stakeholders in the industry work on reviewing COVID-19 regulations to curb the spread of the pandemic.

Farmers have so far sold 149 million kilogrammes of the crop which is 24 percent more than the 119,4 million kilogrammes that had gone under the hammer same period last year.

Latest statistics from the Tobacco Industry and Marketing Board show that auction floors have sold low volumes when compared to contract sales.

So far, 132 776 bales translating to 9,8 million kilogrammes have been sold at the auction floors while, 1,8 million bales equivalent to 138,9 million kilogrammes were sold through the contract floors.

Buyers have offered a highest price of US$4,99 per kg at the auction floors while a highest price of US$6,70 per kilogramme was recorded at the contract floors.

Meanwhile, tobacco growers have been urged by authorities to adhere to the stringent COVID-19 regulations announced recently by Government.

Zimbabwe Commercial Farmers union president, Dr Shadreck Makombe said farmers should comply with the regulations so that they remain safe from the deadly pandemic.

“Farmers should follow all the guidelines to be safe and also continue marketing their crop,” he said.