Prices increased marginally

| June 13, 2018

The average price paid to Zimbabwe’s growers for this season’s flue-cured tobacco was, after 52 days of sales, up by less than one percent on that of the previous season, according to a story in the Zimbabwe Herald citing figures from the Tobacco Industry and Marketing Board (TIMB).

The full-season average price paid to Zimbabwe’s growers has not increased in 20 years.

At the 52-day mark, 177.8 million kg of flue-cured had been sold for US$515.1 million.

By the same point of last season’s sales, 145.8 million kg had been sold for US$420.6 million.

So the apparent average price so far this season is US$2.90 per kg, up US$0.02 per kg, or about 0.7 percent (the story had the percentage increase at 0.45 percent) on that of the previous season, US$2.88.

So far this season, 151.0 million kg of flue-cured has been sold under the contract system for US$440.4 million, for an apparent average of US$2.92 per kg (the story had the average as US$2.90 per kg, possibly because of rounding).

At the same time, 26.7 million kg of flue-cured has been sold at auction for US$74.7 million, for an apparent average of US$2.80 per kg (US$2.79 per kg).

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Category: Breaking News, Leaf, Markets, People

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