SEASONAL tobacco exports have raked in $244 million as at May 4 2016 with the bulk going to China according to latest statistics from the Tobacco Industry and Marketing Board (TIMB).
Source: Tobacco exports rake in $244m – NewsDay Zimbabwe May 10, 2016
BY TARISAI MANDIZHA
During the same period last year, tobacco worth $230 million was sold.
In 2016, seasonal exports increased to 41,7 million kg at an average price of $5,84 compared to last year’s 37,5 million kg at an average price of $6,14 per kg.
The value of the crop exported to China was $163 870 169 at an average price of $8,11 per kg. South Africa was the second highest buyer, purchasing 7 920 083 of the golden leaf valued at $24 736 067. The average price was $3,12.
According to statistics from the TIMB, of the total exports of 41 698 201kg, nearly half (20 206 837kg) of the golden leaf had been shipped to China.
Indonesia was the third after buying 2 059 946kg of tobacco worth $11 132 105 at an average price of $5,40 per kg.
During the same period last year, China was leading after buying 19 679 380kg valued at $168 534 117. The average price was at $8,56 per kg, while South Africa brought 4485 970kg valued at $14 189 131. The average price was at $3,16 and Russia purchased 1 633 000kg valued at $5 075 900 at an average price of $3,11 per kg.
As of Friday last week tobacco totalling 42,6 million kg and valued at $117,5 million had been sold as deliveries increased to the auction floors.
The deliveries were 66% up from the 25,7 million kg recorded last year valued at $28,2 million.
Latest statistics from the TIMB showed that tobacco was being sold at an average price of $2,76 per kg, compared to $2,67 per kg over the same period last year.
The total auction sales stood at 8,5 million kg valued at $19,8 million, while contract sales accounted for 34 million kg worth $97,8 million.
According to a TIMB report, the number of farmers registered as tobacco growers declined by 19% to 78 015 compared to 96 025 during the same period last year.
COMMENTS
Release this money into the market and there will be no need for bond currency!