So far this sales season, Zimbabwe’s average flue-cured price, at $3.18 per kg, is more than 14 percent down on that of the same period of last year, $3.71, according to a story in News Day.
No explanation was given as to why the prices paid to farmers were down so dramatically.
The latest figures issued by the Tobacco Industry and Marketing Board (TIMB) indicate that this season 151.5 million kg of flue-cured has been sold for $481.8 million. The sales comprised 109.5 million kg sold under contract and 42 million kg sold at auction.
By the same stage of last season, 118.8 million kg had been sold for $440.6 million.
At least 180 million kg of flue-cured is expected to be sold this year, up from 166 million kg last year.