Tobacco exports reach $208m

Tobacco exports reach $208m | The Herald March 8, 2016

Brenda Ziga Herald Reporter
Zimbabwe has earned $208 million from 32 million kilogrammes of flue-cured tobacco exported in the past two months, the Tobacco Industry and Marketing Board (TIMB) has said.

TIMB statistics show that exports increased by 9 percent from $203 million in the corresponding period last year to $209 million this season.

The country exported 29 million kg last year. China has remained the major buyer of Zimbabwean tobacco while South Africa has topped the buyers’ list in Africa.

The statistics show that during the first two months of last year, Zimbabwe exported tobacco to 29 countries, a figure that rose to 31 this year.

The bulk of the exports were to China which imported 20 million kg valued at $163 million while exports to South Africa were 4,1 million kg valued at $13 million, Belgium bought 1,6 million kg at $8 million, Indonesia 1,3 million kg at $7,4 million, Russia 1,1 miilion kg at $3,5 million and United Arab Emirates one million valued at $2,7 million.

The TIMB public relations and communication manager, Mr Isheunesu Moyo said tobacco buyers do not export the product if the market price is low, but they wait for the market price to firm.