Tobacco selling season ends next week

Harare (New Ziana) -The 2023 tobacco selling season is nearing the end with the official closure of auction floors now set for 31 July, the industry regulator said on Monday.

In a statement, the Tobacco Industry and Marketing Board (TIMB) said final mop-up sales for the auction system would take place on August 30th.

“After consultations with all stakeholders, the Board wishes to advise that the official date of closure for the 2023 auction floors is 31 JULY.

“However, growers will still be able to sell their auction tobacco through a mop-up sale. The final auction clean up sales will be held on Wednesday 30 August 2023,” it said.

The board however said selling of tobacco via the contract system would continue.

“Contract sales will continue to operate until such a time when individual contractors have fully received all their tobacco,” it said.

According to statistics that the TIMB released on day 92 of sales, a total of 291.1 million kg of tobacco worth US$882.2 million had been sold at an average price of $3.03 per kilogram.

Of the total volume of tobacco sold to date, 271.2 million kg were sold via the contract system while the remainder went under the hammer.

The record output of tobacco is a result of good rains and also because more farmers planted the crop.

Tobacco is the country’s second largest foreign currency earner after gold. Farming of the golden leaf is arguably one of the success stories of agriculture in the post-land reform era.

At least 98 percent of the locally produced tobacco is, however, exported in semi-processed form and calls are growing for value to be added to the crop.

New Ziana