Tobacco 2019 exports rake in $177m
ZIMBABWE has earned over $177 million from 41,3 million kilogrammes that have been exported to different countries across the world since January 2019, latest data from the Tobacco Industry and Marketing Board (TIMB) shows.
The golden leaf has been exported at an average price of $4.30 a kg compared to 22,7 million kg exported during the same period last year at an average price of $5,14 raking in $116,6 million.
According to the latest statistics from TIMB, tobacco export earnings were at $177,6 million with South Africa sitting on first position as the leading buyer of flue-cured tobacco from Zimbabwe, importing 18,7 million kg valued at $70,3 million at an average price of $3,76 a kg. China, which is traditionally the major importer of the golden leaf from Zimbabwe, has so far consumed 7,4 million kg worth $64,9 million at an average price of $8,72.
Mozambique was on third spot having so far imported 4,1 million kg at $9,8 million with an average price of $2,38 a kg. The United Arab Emirates, which is also one of the top five importers of the golden leaf from Zimbabwe was on fourth spot spending $8,5 million on 2,9 million kg whose average price per kg was pegged at $2,92.
Belgium has since the beginning of the year imported 2,2 million kg worth $4 million with an average price of $1,85 a kg. During the same period last year, the top five consumers of flue-cured tobacco from the country were China, Belgium, Indonesia, South Africa, and Russia. Brazil, Jordan, Japan, United States of America, Zambia, Namibia, Botswana, Malawi, Lesotho, the United Arab Emirates, India and Canada were some of the countries that imported tobacco from Zimbabwe.
The golden leaf is the country’s major foreign currency earner and since 2009 has been pivotal in supporting the liquidity situation. Meanwhile, this year’s tobacco marketing season opens today with 32 buyers and 30 contracted companies.
TIMB chief executive officer Dr Andrew Matibiri has said the tobacco marketing season this year was likely to commence with a stagnant number of licensed buyers and a slight increase of contracting companies. The Reserve Bank of Zimbabwe has approved farmers’ request to be paid 50 percent of their income from tobacco sales into their nostro accounts and the other half into their RTGS$ accounts.