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Zimbabwe has so far sold tobacco worth $558 million, latest Tobacco Industry Marketing Board (TIMB) figures show.
There has been a 39 percent improvement in the volumes sold so far, up from 133,5 million kilogrammes last year to 175,5 million kilogrammes this year to date.
The 175,5 million kilogrammes reached mean that Zimbabwe is less than 5 million kilogrammes behind the initially targeted sales of 180 million kilogrammes this year.
A visit to tobacco auction flows shows that tobacco sales there have basically dried up, with most of the activity taking place at contract
floors.
This gives credence to claims that non-contract tobacco farmers are diverting their crop to contract buyers, and as TIMB chief executive Dr Andrew Matibiri recently hinted, these farmers may be selling their crop to contract farmers who then sell it as part of their contract crop.
The latest figures also confirm that most of the tobacco crop continues to be sold through the contract floors, with contract buyers having purchased 129 million kilogrammes worth of tobacco worth $431 million to date.
In terms of auction, Tobacco Sales Floor has purchased 22 million kilogrammes of tobacco valued at $65 million, while Boka Tobacco Floors has purchased 11 million kilogrammes worth 29,5 million.
11,5 million kilogrammes of the golden leaf have been sold through Premier Tobacco Floors to the tune of $30,9 million. — BH24.com.
derick.khumalo