Tobacco sales top US$367m in two months

The Tobacco Industry and Marketing Board has ditched unpopular auction floors outside Harare

Staff Writers

Tobacco farmers have to date earned US$367 million in two months of the marketing season, which is an improvement of 49% from the US$246 million earned in the comparable year ago period.

As of day 40, mass sold amounted to 135 million kg, a 29% increase from the 104 million kg recorded last year. The mass sold is 32.5% shy of the 200 million kg target for this year.

Tobacco Industry Marketing Board Public Relations executive Chelesani Moyo said the industry is confident the 200 million kg target will be met.

The auction floors have sold 9 million kg worth US$25 million or 6.81% of the total compared to 126million kg valued at US$341 million kg sold through contract floors.

The total average price is US$2.71 per kg compared to US$2.35 offered during the same period last year.

Moyo said there had been improvements with regards farmers payments as funds are being received within a short space of time.

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