By Itai Ndongwe
HARARE – The Tobacco Industry and Marketing Board (TIMB) has temporarily suspended Country-Agro Ltd from all tobacco buying activities over concerns about its pricing conduct and behaviour on the market.
In a notice signed by TIMB chief executive Emmanuel Matsvaire, the regulator said it had been monitoring licensed tobacco buyers and had identified pricing patterns linked to Country-Agro that raised “serious concerns.”
According to TIMB, the company’s conduct could undermine fair price discovery, distort competition among buyers, and negatively affect farmers and the integrity of the tobacco market.
“The suspension is precautionary and administrative in nature and is meant to allow a thorough assessment of the issues identified,” Matsvaire said.
The suspension took effect immediately and will remain in place pending further review by the board.
TIMB has given Country-Agro five days to submit written representations explaining why the suspension should be lifted and why further action, including a permanent suspension or other penalties, should not be taken.
The board said failure to respond within the stipulated period could result in a decision being made based on the information already available.
TIMB said the move was necessary to protect the stability and credibility of Zimbabwe’s tobacco marketing system, which remains one of the country’s biggest foreign currency earners.
The regulator also reaffirmed its commitment to ensuring a fair and transparent tobacco market that protects both growers and buyers.
The suspension comes at a time when tobacco deliveries and sales are rising sharply.
According to TIMB statistics, Zimbabwe had sold 179.95 million kilogrammes of tobacco by April 29, 2026, up 46 percent from the 122.89 million kilogrammes sold during the same period last year.
The value of the crop also increased by 13 percent to US$471.29 million, compared to US$418.07 million recorded in 2025.
Most of the tobacco was sold through contract arrangements, which accounted for 168.88 million kilogrammes worth US$449.17 million. Auction sales contributed 11.06 million kilogrammes valued at US$22.12 million.
Despite the increase in volumes, average prices fell by 23 percent to US$2.62 per kilogramme from US$3.40 recorded during the same period last year.
Auction tobacco averaged US$2 per kilogramme, while contract tobacco averaged US$2.66 per kilogramme.
The highest price recorded this season was US$5.75 per kilogramme, down from US$6.30 last year, while the lowest remained at US$0.10 per kilogramme.
TIMB statistics also show that rejection rates increased to 3.91 percent from 2.99 percent last year, with 87,659 bales rejected out of more than 2.24 million bales presented for sale.
Overall, more than 2.15 million bales had been sold by the end of April, compared to 1.51 million bales during the same period in 2025, while the average bale weight rose slightly to 84 kilogrammes.
