Zimbabwe’s Tobacco Industry and Marketing Board (TIMB) guaranteed that the country’s projected record tobacco harvest projected to top 400 million kg will be fully absorbed by buyers, easing concerns over a global supply glut. International and domestic merchants have already committed to purchase the bulk of the crop, with authorities aiming to prevent a repeat of market disruptions seen in other producing countries where oversupply led to price collapses.
Despite strong volumes, global demand has softened following post-pandemic stock rebuilding by cigarette manufacturers, contributing to an estimated 18% drop in prices. However, officials say emerging markets and potential future supply risks could support demand and pricing later in the season.