Zim tobacco sales decline by 5%

STATISTICS from the Tobacco Industry and Marketing Board reveals that the latest sale figures are, 5% down compared to $61 million realised in the same period last year.

These figures were a result of the auctioning of 17 million kg of the golden leaf after accumulating $58 million from 19 million kgs since beginning of 2014 selling season.

Of the 19 million kg sold, contract farmers accounted for 13,1 million kg valued at $42 million.

Tobacco Sales Floor sold three million kg valued at $8 million, Boka Tobacco Auction Floors sold 1,7 million kg valued at $4,2 million while tobacco worth $3,4 million went under the hammer at Premier Tobacco Floors.

The average price during the 19th day of sales was $3 per kg, a 16,27% decline compared to $3,57 per kg obtained in the prior period.

Last week, tension was high at various tobacco auction floors in Harare where angry tobacco growers accused unscrupulous buyers of cheating them.

The situation was especially volatile at Boka Auction Floors where farmers pushed for physical action, including protests, against what they said was a deliberate move by the buyers to short-change them.

The farmers claimed that prices, which ranged from as low as $0,60 to around $3 per kg, were a mockery of their hard work.

— Online

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