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TOBACCO exports from Zimbabwe to various destinations across the world declined by 37 percent between January and March. According to latest statistics released by the Tobacco Industry and Marketing Board a total of 14,3 million kg worth $51,8 million were exported during the period under review compared to 22,8 million kg worth $87,8 million that was sold during the same period last year.
During the same period last year there was a steady flow of sales.
This year’s tobacco exports have been at an average price of $3,62 per kg against $3,84 per kg during the same period last year.
Belgium bought the highest amount of tobacco amounting to 3,2 million kg worth $8,3 million followed by the United Arab Emirates that has imported 1,79 million worth $5,1 million.
Belgium and the United Arab Emirates bought tobacco at an average price of $2,54 and $2,86 per kg respectively.
China, which has been the leading importer of the country’s golden leaf, bought 1,74 million kg worth $13,2 million at $7,59 per kg.
The highest average price so far is $8,72 per kg which is being offered by Malaysia which has so far imported 39 600 kg worth $345 312.
During the same period last year, South Africa had imported the highest amount of tobacco amounting to 7,6 million worth $23,1 million at $3,01 per kg.
The UAE had bought the second most tobacco amounting to 2,2 million kg worth $5,01 million at $2,24 per kg and China was third after importing 1,7 million kg worth 16,1 million at $9 per kg.
Meanwhile there has been a 13,92 percent increase in the tobacco that has been sold so far.
A total of 17,8 million kg have been sold so far against 15,6 million that was sold during the same period last year.
The 17,8 million has grossed $53,5 million at an average price of $3 per kg while last year’s 15,6 million kg fetched $55,7 million kg at $3,56 per kg.
Of the 17,8 million kg sold,12,08 million kg was sold under contract for $39,2 million at an average price of $3,24 per kg and the balance of 5,7 million kg worth $14,3 million at an average price of $2,49 was sold under the auction system.
Of the 5,7 million kg sold under the auction system, 2,8 million kg worth $7,3 million was sold at Tobacco Sales Floor, 1,6 million kg worth US$1,6 million was sold at Boka Tobacco Floors and 1,3 million kg worth $3,1 million at Premier Tobacco Floors.
At least 185 million kilogrammes of tobacco are expected to go under the hammer this season up from the 166,6 million kg sold last year.
Online Reporter