Grower prices down almost 22 percent in Zimbabwe

With 7.3 million kg of flue-cured tobacco sold, grower prices in Zimbabwe this year, at US$2.23 per kg, are down by almost 22 percent on those of the corresponding period of the 2014 selling season.

And the prices paid during the early part of the 2014 season were themselves down by nearly 30 percent on those of the corresponding period of 2013.

By the end of the 2014 sales season, the average grower price was down by almost 14 percent on that of the 2013 season: US$3.17 per kg as against US$3.67 per kg.

The latest figures, which were provided by the Tobacco Industry and Marketing Board and relayed by the TMA, indicated that growers had sold by March 20 7.3 million kg of flue-cured tobacco for US$16.2 million: for an average price of US$ 2.23.

During the corresponding period of 2014, growers had sold 9.3 million kg of flue-cured tobacco for US$26.5 million: for an average price of US$2.85 per kg.

Auction floor flue-cured tobacco sales up to March 20 stood at 2.5 million kg, which was sold for an average price of US$1.60 per kg. Sales were down from those of the corresponding period of 2014, when about 3.7 million kg of flue-cured tobacco was auctioned at an average price of US$2.42 per kg.

According to these figures, the average auction grower price was down by nearly 34 percent.

Meanwhile, contract flue-cured tobacco sales totaled 4.7 million kg at an average price of US$2.23 per kg, down from 6.6 million kg at an average price of US$3.14 per kg.

According to these figures, the average contract grower price was down by nearly 29 percent.