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Zimbabwe sales near to 2001 peak

| June 30, 2014

Zimbabwe sold nearly 190 million kg during the 2013–2014 season, surpassing the target of 180 million kg, reports New Zimbabwe, quoting the Tobacco Industry and Marketing Board (TIMB).

Auction and contract sales fetched a combined $604.7 million.

Although auction marketing is set to end soon, contract sales would continue until further notice, TIMB added.

In 2013, 166 million kg of tobacco worth $616 million was sold.

TIMB chief executive officer Andrew Matibiri said he hoped the remaining crop to be sold under the contract system would push production figures for 2014 to 200 million kg.

If met, the target would be slightly lower than the country’s peak production of 231 million kg in 2001.

China has been the largest buyer of Zimbabwean tobacco over the past years.

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Category: Breaking News

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