Tobacco market opens

Zimbabwe’s 2017 flue-cured tobacco selling season opened on Wednesday with an auction-market starting price of US$4.60 per kg and the lowest price at US$0.20 per kg, according to a story in The Financial Gazette.

Three auction floors, Tobacco Sales Floor, Premier Tobacco Auction Floors and Boka Tobacco Floors have been licensed this year; and 19 companies are operating through the contract-sales system.

This season’s flue-cured crop has been estimated at 205 million kg.

Tobacco Industry and Marketing Board chairperson, Monica Chinamasa, was quoted as saying that the board was happy with the state of preparedness of all the auction floors.