• March 19, 2024

Zimbabwe’s export prices up but grower prices down

So far this year, Zimbabwe has earned US$322 million from exporting 59.0 million kg of tobacco at an average price of US$5.46 per kg, according to a story in the Bulawayo Chronicle citing Tobacco Industry and Marketing Board (TIMB) figures.

During the same period of last year, the country earned US$211 million from exporting 45.8 million kg at an average price of US$4.61 per kg.

This year China has been Zimbabwe’s biggest customer, so far paying US$176.8 million for 20.8 million kg, representing an average price of US$8.48 per kg.

Last year, Zimbabwe earned close to US$1 billion from tobacco exports.

Meanwhile, the Chronicle reported that the 2015 marketing season had closed with growers having been paid an average of US$2.94 per kg for 191.9 million kg.

In 2014, growers sold 209.1 million kg for an average price of US$3.17 per kg.

So, during the same period – though not involving the same tobacco – export prices rose by 18.4 percent as grower prices fell by 7.2 percent.