eBusiness Weekly
Nokutenda Chiyangwa
Zimbabwe’s tobacco export earnings have increased by 18 percent to $727,5 million from $612,9 million during the same period last year.
Over 149,2 million kilogrammes of local Virginia tobacco has been sold to over 50 countries as at November 9, 2018 according to latest statistics from Tobacco Industry and Marketing Board (TIMB).
The increase reflect a gain in revenues of over $114 million in comparison with last year’s earnings during the same period. According to TIMB, the country exported tobacco at an average price of $4,88 per kg.
China was the largest export destination with total export earnings of $365 million after buying 48,3million kg at an average price of $7,54 per kg, followed by South Africa which purchased tobacco 24, 8 million kg worth $74,4 million at $2,92 per kg. Ranking third is Indonesia which spent $49,8 million after importing 11,9 million kg of tobacco from Zimbabwe. This tobacco was exported at an average price of $4,17/kg.
During the same period last year, China and South Africa were top export destinations with earnings of $255,7 million and $57,3 million respectively, shows the TIMB report.
With an estimated 350 million smokers, China has been spending over $300 million annually on Zimbabwean tobacco, regarded among the best in the world. Other buyers of Zimbabwean tobacco are Sudan, United Arab Emirates, Bulgaria, Vietnam, Hong Kong, France, The Netherlands, Germany, Nigeria, Taiwan, Spain and Tanzania. Buoyed by last year’s significant success, the latest TIMB weekly bulletin is showing that there is a general increase in tobacco registrations for the upcoming season.
Tobacco registrations are now at 162 028 from 98 233 farmers recorded during the same period while registrations were up 34 845 from 29 159.
In terms of registrations, Mashonaland Central province is at the top with 61 303 followed by Mashonaland West which stands at above 55 000 tobacco growers. While Midlands which has 531 growers, has improved from 288 and Masvingo has improved to 164 from 103 last year. The above figures shows farmers’ appetite to grow the golden leaf.
Given the registered tobacco growers, the country may surpass the newly set record of 242 million kg.
Tobacco is now Zimbabwe’s second biggest foreign currency earners after gold. Last year tobacco exports topped $900 million, which was a marginal decrease from the $933 million the previous season.
