Zimbabwe Records Best Ever Sales

Zimbabwe’s tobacco auctions will close July 31 after four months of record sales, according to Bulawayo24.

Final cleanup sales for the auction system will take place on Aug. 30, according to the Tobacco Industry and Marketing Board (TIMB).

“After consultations with all stakeholders, the board wishes to advise that the official date of closure for the 2023 auction floors is 31 July.

“However, growers will still be able to sell their auction tobacco through a mop-up sale. The final auction cleanup sales will be held on Wednesday, 30 August 2023,” the TIMB said.

“Contract sales will continue to operate until such a time when individual contractors have fully received all their tobacco,” the TIMB added.

“The closure was approved by the Minister of Lands, Agriculture, Fisheries, Water and Rural Development, Honorable Dr. Anxious Jongwe Masuka,” said the TIMB.

A total of 291.1 million kg of tobacco worth $882.2 million has been sold at an average price of $3.03 per kilogram. Of the total tobacco sold, 271.2 million kg were sold via the contract system.

This year’s sales volumes put Zimbabwe on track to achieve its target of 300 million kg by 2025, as formulated in the Tobacco Value Chain Transformation Plan, ahead of schedule.