Tobacco to increase forex inflows 

Source: Tobacco to increase forex inflows | The Herald March 2, 2019

Tobacco to increase forex inflows

Ellen Chasokela Herald Reporter
Foreign currency inflows into the country are set to improve next month, with the Tobacco Industry and Marketing Board (TIMB) having indicated that the 2019 tobacco marketing season will open on March 21.

TIMB has so far recorded a 44 percent increase in farmers who have registered for the season to 170 169 farmers from 118 142 last year. Of the 170 842 registered growers, 41 552 are new.

Farmers last year delivered a record 252 million kilogrammes of flue-cured tobacco worth $737,2 million. This was after Government came up with an input and infrastructural support scheme that was handled by Agribank and TIMB. The previous record was 237 million kg, which was achieved in 2000. TIMB corporate communications manager Mr Isheunesu Moyo said preparations for the marketing season were progressing well and they had so far licensed 30 contractors and 31 buyers. He said they were still carrying out crop assessment and would soon complete the last phase of the assessment.

“Preparations for the 2019 marketing season are underway and we will soon complete the crop assessment,” he said. “We have 31 registered contractors this season and 31 buyers.”