Tobacco exports reach US$1,36 billion in December

Martin Kadzere

Zimbabwe’s tobacco exports totalled US$1,36 billion as of mid December, with the golden leaf maintaining its status as the country’s leading agricultural foreign currency earner despite a slight 0,7 percent dip from a year earlier, data from the Tobacco Industry and Marketing Board (TIMB) shows.

While traditional Asian markets cooled, a massive surge in European demand and steady growth within Africa helped offset the overall decline.

The European union emerged as the standout growth market this season, with export values skyrocketing by 64,5 percent.

Total earnings from the bloc rose to US$169,6 million from $103,1 million.

The surge reflects a growing preference for Zimbabwe’s high-quality, flue-cured Virginia leaf among continental manufacturers.

Conversely, the Far East, dominated by China, remains Zimbabwe’s largest customer with revenue falling from US$953,2 million to $819,3 million. Despite the 14 percent drop, the Far East still accounted for 60 percent of the total tobacco export value.