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Tobacco Exports Higher by 7 %

Published on March 10th, 2016 00:00

Tobacco exports amplified by over 7% to $183 million in January 2016 after exporting about 25 million kilograms of the golden leaf, most recent statistics from the Tobacco Industry Marketing Board (TIMB) demonstrate. In the course of the similar period a year ago, Zimbabwe gained $181 million from 23.3 million kilograms exported to diverse parts of the world.

The majority of the tobacco was exported to China, which constituted around $162 million of the entire export revenue. Belgium was the second after acquiring 6.6 million kilograms of the golden leaf at a price of $1.3 million, accompanied by Indonesia, South Africa and Russia.

An economic analyst, Luxon Zembe, linked the raise to two main aspects specifically elevated demand and the high quality of the Zimbabwean tobacco. He stated there was normally a bigger demand of the product on the international market however, supply continued to be surprisingly low.
“Challenges with the international product have motivated the international markets to select the top quality Zimbabwean tobacco to mix it with other less strong products,” stated Zembe. “One more motive could be usually a boost on the demand side whilst the supply is low, so that ultimately forced the prices up given that the level of quality of the product is great. ”Based on the most recent data, the number of tobacco farmers for the 2015/16 tobacco season dropped by 21 % to 70,462 in comparison with the 88,640 growers listed in the course of the similar period last year.

Communal tobacco growers centered the list registering 33,735, while A1 and A2 farmers registered 25, 000. Small-scale farmers were the very least after registering 5,347. TIMB outlined that the new farmers registration declined by 45 % with only 9,039 having registered. In the same period last year, 16,540 new farmers were registered.

Zimbabwe’s tobacco manufacturing, which is one of the biggest in Africa, was affected by a number of issues including unpredictable power supplies to treat the tobacco among other.