via TIMB records a decrease in tobacco deliveries – NewsDay Zimbabwe May 13, 2015 by tatira Zwinoira
THE Tobacco Industry and Marketing Board (TIMB) recorded a decrease in tobacco deliveries in the first 45 days of the tobacco selling season for this year compared to 2014.
Figures provided by TIMB show that as of Friday, delivered tobacco represented a decline of 3,99% with 92,2 million kg valued at $267,7 million, down 13% from 96,1 million kgs valued at $ 308,7 million over the same period last year.
Tobacco was sold for an average price of $2,90 per kg down from $3,21 over the same period last year.
The total auction sales stood at 28,7 million kgs valued at $71,2 million while contract saleswere 63,6 million kgs at $196,4 million.
A total of 1,1 million bales were sold, a figure lower than 1,3 million recorded during the same period last year while the total of rejected bales was up 8,96% at 113,107 from 5,56% at 75,274 bales same time last year.
According to the TIMB report, bales from the auction floors were rejected for a number of reasons with the major one being mouldy leaves.
Average bale weight was at 80kg’s which was slightly up from 75kg from the same period last year.
A total of 1,2 million bales were laid which was a slight decrease over the same time last year from 1,3 million showing that fewer tobacco farmers submitted their produce.
Total exports were up at 36,3 million kgs with a value of $226,8 million from the same period last year at 16,4 million kgs with a value of $58,6 million.
China was the biggest buyer of tobacco in exports spending $168,5 million on 19,6 million kgs at $8,58 a kg which was a huge jump from the same period last year where the country spent $13,9 million for 1,86 million kgs.