19 February 2018
   
PICTURES: Tsvangirai funeral; ED visit
No decision yet on ‘T’ – says MDC-T
VP vows decisive corruption fight
Crisis coalition warns of violent elections
Govt to pay ex-PM’s R2m hospital bill
Pres Mnangagwa hails Tsvangirai
DRC says rebuffed Rwanda incursion
Tanzania police kill University student
MORE NEWS
RBZ doubles gold and tobacco support
Prosperous Zim good for Botswana: BoB
MORE BUSINESS
Tsvangirai: SABC axes Zim-born presenter
Africans celebrate 'Black Panther'
MORE SHOWBIZ
Zim gears up for another spin test
Zidane admits Real Madrid exhaustion
MORE SPORTS
Ex-PM: heroic herald of epoch foretold
MDC squabbles risk democracy fight
MORE OPINION
 
MDC-T party: It’s now dog-eat-dog
UK deportation: Wither affected Zimbos
MORE COLUMNISTS
 
 
Tobacco sales near to 2001 peak, generate US$600m

28/06/2014 00:00:00
by Agencies
 
 
RELATED STORIES
Zim loses $6 billion tobacco revenue
Tobacco curing eats up Zim’s forests
Tobacco boom justifies land grabs, Made
Tobacco: Counting the cost for rural poor
Zimbabwe’s emerging tobacco queens
$358m raised from 112mln kgs of tobacco
Tobacco firms to curb deforestation
Prices firmer as tobacco actions start
$616m expected as tobacco sales open
Tobacco auctions to open next month

TOBACCO sales reached 190 million kg, which surpassed this year’s target of 180 million kg, the Tobacco Industry and Marketing Board (TIMB) announced Thursday.

Both auction and contract sales fetched a total of US$604.7 million.

Although auction marketing is set to end soon, contract sales however, would continue until further notice, TIMB added.

In 2013, a total of 166 million kgs of tobacco worth US$616 million were sold.

TIMB chief executive officer Andrew Matibiri hoped the remaining crop to be sold under the contract system would push production figures for 2014 to 200 million kg.

If met, the target would be slightly lower than the country’s peak production of 231 million kg in 2001.

Tobacco has been on a rebound since 2008, with more farmers turning to the lucrative crop which ranks among one of the largest foreign currency earners for Zimbabwe.

The cash crop is actually the country’s largest foreign currency earner in the agriculture sector and China has been the largest buyer of Zimbabwean tobacco over the last few years. 



Advertisement


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark

 
 
 
comments powered by Disqus
 
RSS NewsTicker