Zimbabwe Auction Season Closes

Zimbabwe’s tobacco auction season ends tomorrow while contract sales remain open until further notice, said the Tobacco Industry and Marketing Board (TIMB).

The golden leaf is being sold through auction and contract arrangements with the selling season traditionally beginning in March.

This year’s selling season began in April because of the adverse impact of the Covid-19 pandemic. The delay required TIMB to make adequate preparations to curb the spread of the deadly disease.

So far, about 176 million kg of tobacco have gone under the hammer generating close to US$440 million.

Zimbabwe exports 98 percent of its tobacco leaf with tobacco receipts from the foreign markets expected to reach $1,2 billion this year, up from $904 million last year.