Online Reporter
Business Writer
Tobacco exports have generated US$381 million as Zimbabwe continues to invest in value addition and beneficiation.
Latest statistics from the Tobacco Industry and Marketing Board reveal that 62,3 million kilogrammes of semi-processed tobacco have been exported to various international destinations, including the Far East, Europe, the Middle East, and Africa.
The Far East remains the primary destination for Zimbabwean tobacco and is among the regions offering high prices.
This market purchased 34,8 million kg of tobacco, valued at US$269,6 million, at an average price of US$7,75 per kg.
Other significant markets include Oceania, which purchased 28,560kg worth US$241 332 at an average price of US$8,45 per kg, and the European Union, which imported 5 064 656kg worth US$27 million at an average price of US$5,33 per kg.
Countries in Africa imported 11,9 million kg of tobacco worth US$52,5 million at an average price of US$4,39 per kg, and the Middle East bought 7,1 million kg valued at US$21,9 million at an average price of US$3,09 per kg.
Americas bought 2 556 640kg worth US$7,6 million at an average price of US$2,98 per kg and Europe bought 735 200kg at an average price of US$2,40 per kg.
Zimbabwe is one of the top five major global producers of flue-cured tobacco, with its leaf highly regarded for its distinctive flavour.
Tobacco provides the best economic return per hectare among all major crops, and its value chain employs more than 1,2 million people, supporting up to six million dependants.
The tobacco industry is targeting an increase in value addition and beneficiation of tobacco into cut rag and cigarette production from two percent of total tobacco produced to 30 percent, aiming to boost cigarette exports by 2025. To date, 10,15 percent has been achieved.
The Government and private partners are intensifying efforts to increase value addition. Ten cigarette manufacturers are operating in the country, with a combined production capacity of around 4,4 billion cigarette sticks per annum.
