Chronicle EditorTHE 2024 tobacco auction sales are set to officially close on Thursday this week, the industry regulator announced on Monday.
In a statement, the Tobacco Industry and Marketing Board (TIMB) said the remaining auction tobacco will be sold the following week in a mop-up sale.
“The board wishes to advise all stakeholders that the official date of the closure of the auction floors is Thursday 22 August 2024. However, growers will still be able to continue to sell their auction tobacco through a mop-up sale. The final auction will be held on Thursday 29 August 2024,” it said.
The TIMB said contract sales will continue until the contractors have received all their tobacco.
“Contract sales will continue to operate until such a time when individual contractors have fully received all their tobacco,” said the board.
Meanwhile, Zimbabwean farmers have so far sold a total of 230,8 million kilogrammes worth US$791,6 million, statistics that the TIMB released show, exceeding the Government-set target of 230 million kg. Statistics that the TIMB released on day 106 of sales however show that the volume of tobacco was 21,8 percent lower than last year when 295,1 million kg of the golden leaf worth US$894,2 million were sold.
The tobacco is being sold at an average price of US$3,43 per kg, up from $3,03 paid for the golden leaf during the comparable period last year.
In the 2022/23 cropping season, the country produced a record 296 million kilogrammes of tobacco worth US$896 million but output plummeted during the 2023/24 season owing to the El Nino-induced drought. – New Ziana.
Online Reporter