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Edgar Vhera
Agriculture Specialist Writer
CUMMULATIVE tobacco sales from the country’s auction and contract floors have reached 90 percent of the 300 million kilogrammes targeted by 2025.
The Tobacco Value Chain Transformation Plan (TVCTP) crafted in August 2021 sought to achieve the sustainable intensification of tobacco production to 300 million kilogrammes by 2025.Statistics from the Tobacco Industry and Marketing Board (TIMB) indicate that growers had by day 69, sold 270 million kg of flue cured tobacco worth US$817 million.
This is a 53 percent increase in volume and a 52 percent rise in value from the same period last year.
Auction floors have so far sold 19 million kg of tobacco worth US$55 million in comparison to last year’s 11 million kg that earned US$37 million.
This is a 67 percent increase in volume and a 49 percent rise in value.There has been a 11 percent decline in average auction floor price from US$3, 23 per kg in 2022 to this year’s US$2, 89.
Auction floor sales account for seven percent of total seasonal sales in volume and value terms.
The contract floors have so far traded 251 million kg with a value of US$762 million against the previous season’s 165 million kg worth US$500 million.
This is a 52 percent increase in volume and value.
The highest price recorded so far remains at US$6, 10 per kg at the contract floors with the auction side recording US$4, 99 per kg.
Last year’s highest price was US$6, 80 per kg at the contract floors with the lowest standing at US$0, 10 per kg.
Online Reporter