Tobacco Sales Almost US$400 Million On Day 44

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By Alois Vinga

TOBACCO sales reached US$396.4 million on day 44, surpassing levels reached in a similar period last year, Tobacco Industry Marketing Board (TIMB) statistics have revealed.

The TIMB update which contains stats compiled up to the 9th of June 2021 shows that farmers at the Auction Floors had sold a total 9.5 million kilogrammes with a value of US$26.7 million while contract farmers had sold 136.4 million kgs.

The total sold so far at 146 million is way above 116 million kilogrammes that had been sold during a comparative period last year.

“In a comparative period last year, tobacco worth US$274.6 million had been sold and the current sales indicate a 44 % upsurge from last year’s,” the TIMB update said.

The average price at the auction floors stood at US$2.79 per kilogramme and US$2.71 per kilogramme for contract farmers which are higher than the US$2.37 yester year’s average.

The numbers of tobacco bales laid and sold to date by both the auction floor and contract farmers are 32.3 % higher.

Meanwhile, the Zimbabwe Farmers Union recently told the media that TIMB’s efforts to spell outside marketing of the golden leaf will go a long way in maximising farmers’ benefits.

“We are quite happy about this initiative by TIMB. As we do away with side marketing, we are bringing in business ethics. We are now conducting business on professional grounds, which is a good development.

“Even investors will start to have confidence when they want to invest their money. They know that it is secure,” he said.