4 July 2015
   
New Zimbabwe Header
US$330,000 ivory from Zim seized in SA
Farmer donates stolen elephant to Mugabe
MDC: Malema’s defence of Mugabe sickening
Stressed Zim on verge of cannibalism, Biti
Vendors: Paranoid Mugabe scared of us
We don’t pay tax, govt commission
Teenage mum poisons own baby, caged
Mugabe in SA for Lesotho talks
MORE NEWS
Meikles posts $34m loss, targets DRC
Metbank recapitalises, says RBZ chief
MORE BUSINESS
Zim Fashion Week sashays Birmingham
Mapfumo turns 70, urges Zim to fight
MORE SHOWBIZ
DeMbare star fined, banned 3 games
Nyadombo training with Bidvest Wits
MORE SPORTS
Mujuru saga and women in politics
Presidency of calamity: Zuma's doomed legacy
MORE OPINION
 
US gay law: Wrong never became right
The Word Our Victory: Work mates
MORE COLUMNISTS
 
 
2010 tobacco auction opens


Auction ... A farmer prepares his tobacco bales at the auction floors in Harare on Tuesday

16/02/2010 00:00:00
by
 
Sale ... Farmers and buyers at tobacco auction in Harare on Tuesday
 
RELATED STORIES

ZIMBABWE’S tobacco selling season opened on Tuesday with 77 million kilograms expected to be sold, almost double the 42 million kilograms shifted last year.

The Tobacco Sales Floor and Zimbabwe Tobacco Auction Centre in Harare will open twice a week on Tuesday and Friday.

Farmers are expecting better prices this year as Zimbabwe seeks to re-establish its place among the world’s leading tobacco producers after a decade of decline, partly caused by the government’s seizure of white-owned commercial farmland for redistribution to landless blacks.

Analysts say a slump in production in Brazil, the world’s third largest tobacco producer after China and India, will push up prices.

So important tobacco has become to Zimbabwe’s ailing economy that last year, it contributed 26 percent of the GDP. The figure will be much higher this year, say analysts.

The Zimbabwe government is pushing commercial banks to avail loans to farmers. Only one bank, the Commercial Bank of Zimbabwe, extended loans of up to US$120 million in the last season.

The acting Agriculture Minister Ignatius Chombo last week made an appeal for large-scale contract tobacco buyers to provide financing for the next season.

“The need to formulate strategies to rapidly increase production and productivity levels and to regain the lost market share cannot therefore be overemphasised,” Chombo said.



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