Zimbabwe Tobacco Sales Reach $721 Million

So far this marketing season, Zimbabwe’s tobacco farmers have brought in $721 million from the tobacco auction and contract floors, down from $832 million in the same period last year, reports The Herald.

This year, 208 million kilograms have been delivered to the marketing floors so far compared to 275 million kilograms last year. The target this year is 265 million kilograms, which is lower than last year’s target; however, this year’s crop was affected by El Nino induced drought.

The Tobacco Industry and Marketing Board noted that 11.7 million kilograms have been delivered to auction floors and 197 million kilograms have been delivered to contract floors. The average price is $3.45 with the highest price at $6.99. Fewer bales have been rejected this year compared to last year.