Published: 2 hours ago

Zimbabwe has earned US$533,606,263 from the export of 97,088,716 kilograms of tobacco since the start of the year, at an average price of US$5.50 per kilogram, according to the latest weekly report from the Tobacco Industry and Marketing Board (TIMB).

Far Eastern countries were the largest buyers, importing 43.8 million kilograms valued at US$306 million, at an average price of US$7 per kilogram. Africa followed, purchasing 20.2 million kilograms worth US$88.4 million, averaging US$4.38 per kilogram.

The Middle East imported 14.8 million kilograms valued at US$46.4 million at US$3.14 per kilogram, while the European Union (EU) took 10.2 million kilograms worth US$56 million at an average price of US$5.47 per kilogram.

Zimbabwe also exported 4.1 million kilograms to the Americas, valued at US$15.6 million at US$3.80 per kilogram. European markets bought an additional 3.8 million kilograms for US$20.1 million (US$5.23 per kilogram), and Oceania purchased 28,560 kilograms worth US$241,332 at an average of US$8.45 per kilogram.

During the same period last year, tobacco exports totalled US$622,162,691 from 117,442,691 kilograms sold at an average of US$5.30 per kilogram.

Zimbabwean tobacco remains highly sought after internationally due to its distinctive flavour. Both the Government and private sector are pursuing initiatives to increase local processing of tobacco, aiming to boost revenue and enhance the value of the country's tobacco industry.
- the herald

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