Tobacco earnings at $827,4 million as exports rise

By: 
The Source
Source: 
The Source

HARARE: Zimbabwe’s tobacco exports increased by seven percent, earning $827,4 million as at November 22 compared to $771,8 million last year, latest statistics from the industry regulator show.

In a trading update, the Tobacco Industry and Marketing Board said the country exported 166,6 million kilograms of tobacco at an average price of $4,96 per kg compared to 138,6 million kg at $5,57 per kg last year.

China remains the top destination of the country’s golden leaf buying 56,3 million kg at $7,82 per kg worth $440,9 million. South Africa continues to lead the buyers list in Africa, buying 20,9 million kg totalling $64,1 million at $3,06 per kg. Belgium bought 19,8 million kg worth $59,9 million at $3,02 per kg.

So far, 99,448 farmers have registered to grow tobacco in the upcoming 2017/18 farming season. Of the 30,719 hectares area planted, 17,019 hectares is under dryland tobacco while 13,700 hectares under irrigated tobacco.

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