23 January 2018
   
Mzembi challenges arrest; quits politics
Mudzuri: Amnesty for MDC-T cop murder 3
Mnangagwa: Grace mentally unstable
ZESA gave Chivayo $7m, not $5m: Parly
Botswana cops release Mugabe cars
Grace's luxury cars damaged in accident
Chamisa dares military chief on elections
Winky D gives voter registration oomph
MORE NEWS
Filthy 5-Star hotels: Economy blamed
Gemmology center in Mutare soon
MORE BUSINESS
‘Am I African’ explores Zim's race conflict
Gafa’s Epworth concert draws thousands
MORE SHOWBIZ
Billiat might still leave: Sundowns coach
Katsande: Chiefs show championship mentality
MORE SPORTS
Mnangagwa’s ‘New’ Zim merits support
Zhuwao: kleptocracy and EDiots in Davos
MORE OPINION
 
Mnangagwa off to Davos empty handed
Economy: the need for a paradigm shift
MORE COLUMNISTS
 
 
Boost Africa targets 47pct increase in tobacco deliveries  
11/05/2016 00:00:00
by The Source
 
 
RELATED STORIES

HARARE: Tobacco processor Boost Africa says it expects a 47 percent increase in tobacco deliveries after increasing the number of farmers under its outgrower scheme by 50 percent.

The local company, which started operating in 2010, is one of 16 contract buyers licensed by the Tobacco Industry and Marketing Board (TIMB).

As of Monday this week, the company had bought 5,4 million kg of tobacco worth $14,2 million at an average price of $2,62 making it the third top buyer.

Chinese firm Tian Ze remains the top buyer, having bought 8,1 million kg of the crop worth $30,3 million followed by MTC which had bought 7,6 million kg of tobacco worth $20, 1 million.

Gordon Cannon, Boost Africa’s agronomy manager, said the company’s target this year was 14 million kg up from the 9, 5 million kilograms last year.

“We have had an increase in farmers of about 50 percent to 8,564 so we are expecting to get more tobacco by about as much as 47 percent compared to last year,” he said.

Cannon said up to 20 percent of the farmers they contracted last year had defaulted on loans.

“Last year was not a good year in terms of defaults but our target this year is to recover from between 90 and 95 percent of the farmers. It is still early in the season to tell how we will perform, but our preliminary assessments from the fields shows that we will do better than last year.”

Tobacco is Zimbabwe’s biggest export earner, far outpacing receipts from platinum or gold. Last year the country produced 189 million kg of the golden leaf, earning $855 million.

This year production is seen falling 15 percent to 160 million kilogrammes after an El Nino-triggered drought caused long dry spells that forced farmers to delay planting, affecting output.



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