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Business Reporter
ZIMBABWE has earned $190,5 million from 27,3 million kilogrammes of tobacco exported to different parts of the world since January 2016.
Over 50 countries import flue-cured tobacco from Zimbabwe.
Latest data from the Tobacco Industry and Marketing Board (TIMB) show that so far 25 countries led by China were buying Zimbabwe’s golden leaf.
As of Friday last week, 27,1 million kgs were exported generating $195,4 million into the local economy.
The golden leaf is presently being exported at an average price of $6,99 a kilogramme compared to $7,21 the same period last year.
Leading the pack of major consumers of Zimbabwe flue-cured tobacco, China has so far spent $162,9 million importing spent $20 million kg.
Belgium, Indonesia, South Africa and Russia are among the top five countries importing tobacco from Zimbabwe.
Belgium was on second position having so far imported 1,4 million kilogrammes worth $6,6 million followed by Indonesia 1,2 million kilogrammes valued $6,3 million.
South Africa has so far spent $2,4 million on one million kilogrammes of tobacco imported from Zimbabwe since January while Russia has imported one million kilogrammes worth $3 million.
Some of the countries importing Zimbabwe’s tobacco are the United Arab Emirates, Bulgaria, Vietnam, Hong Kong, France, Netherlands, Germany, Holland, Sudan and Tanzania.
Meanwhile, 70,531 farmers have registered to grow tobacco in the 2015/16 cropping season compared to 89,012 who had registered in the 2014/15 farming season.
The Zimbabwe Farmers’ Union in its weekly guide released at the beginning of the month said lack of confidence in prices and effects of drought have affected tobacco production this season.
“The current situation is that there’s a decline in the total area planted between the two years by significant four percent-3,860 hectares.
“Lack of confidence in the market prices and poor rains are some of the reasons the planted area has gone down.
“This is witnessed by the drop in the number of registered growers for the 2015/16 season,” reads part of the guide.
Online Reporter