Figures from the Tobacco Industry and Marketing Board (TIMB) show that, as of day 52 of trading, Zimbabwe’s tobacco sales have reached US$331.4 million after 137 million kilograms were put under the hammer.
This year’s average price at US$2.81 per kg was 30% better than what was offered last year.
Last year, during the same period, 153.9 million kg valued at US$283,5 were sold.
TIMB projects this season’s output at 225 million kg, down from 259 million kg last year,an all-time high.
However, Lands and Agriculture deputy minister, Douglas Karoro, expects the popularity of Philip Morris International’s (PMI) IQOS device to increase international demand for tobacco leaf.
“Innovations like this will increase demand for tobacco worldwide and obviously grow our agricultural industry in a sustainable way here in Zimbabwe. We will support our farmers to produce more and be able to meet increased demand,” he said.