The Tobacco Industry and Marketing Board (TIMB) has reassured Zimbabwean tobacco farmers that market prices are stabilizing following an early-season shock where some bales sold for as little as $0.35 per kg, despite the first bale fetching $4.60/kg. TIMB attributed the sharp early declines to a global oversupply of tobacco, the early opening of sales floors, and limited initial participation by buyers, rather than any structural market distortions.
With the opening of contract floors, including Northern Tobacco, prices have begun to recover, and no complaints from growers were reported during the latest auctions. TIMB emphasized its mandate to protect farmer welfare, pledging to monitor the market closely and prevent conduct that could harm competition or disadvantage growers, urging farmers to allow normal market dynamics to restore stability as broader buyer participation continues.
