Missing buyers blamed for low prices

At least four of the 20 Class A buyers licensed to buy Zimbabwe’s tobacco this year risk losing their licenses because they have not started buying four weeks after the season began, according to a story by Walter Muchinguri for the Zimbabwe Herald.

Tobacco Industry and Marketing Board Chief Executive Dr. Andrew Matibiri said the four had two weeks to get their acts together.

“We give our buyers at least six weeks, from the start of the selling season, to start operating before we withdraw their licenses,” he said. “We, however, make exceptions if the buyer or buyers have good reason.”

However, the absence of buyers at Harare’s auction floors has been singled out by stakeholders as the major reason for the slow start to the tobacco selling season, which has seen protests by farmers about low tobacco prices.

This year’s seasonal average price is so far 29.7 percent lower than last year.