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Farmers earn US$102 million as tobacco selling season continues

14/04/2017 00:00:00
by Xinhua
 
 
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ZIMBABWE'S tobacco farmers have raked in more than 102 million U.S. dollars from auction floors and contract buyers since the beginning of this year’s marketing season on March 15, figures released by the Tobacco Industry and Marketing Board (TIMB) on Wednesday showed.

At least 36.2 million kilograms worth 185.5 million dollars have been exported at an average price of 5.12 dollars per kg.

TIMB said the 38.6 million kg of tobacco sold so far were higher than the 27.6 million kg worth 73.6 million dollars sold during the corresponding period in 2016.

About 30.5 million kg were sold through contract sales and the rest went through the auction floors at an average price of 2.65 dollars per kg.

Zimbabwe expects output of 202 million kg of tobacco in the 2016/17 farming season.

Challenges facing communal farmers, including the shortage of curing fuel and poor curing, grading and storage facilities had resulted in at least 36,121 bales of tobacco being rejected at the floors.

This was a huge rise from the 2,981 bales that were rejected during the corresponding period in the last marketing season.



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