Tobacco sales volumes up 43%

Audrey Galawu

Zimbabwe has recorded a 43% increase in volume sales from 206 402 030 to 295 660 862 kgs by day 110 at both the auction and contract floors.

The value has also increased by 42% from US$631 881 223 to US$895 561 317 over the same time period.

Since auction and contract floors opened in March, Zimbabwe has reportedly sold more than 270 million kg of tobacco worth US$817 million, reports.

The target this year was 230 million kg compared to last year’s 212 million kg.

Tobacco Industry and Marketing Board data shows that this year’s sales have increased 52 percent from 2022 sales of 177 million kg during the same period.

The highest price at the contract floors was US$6.10 per kilogramme while the highest price at the auction floors was $4.99 per kilogramme.

Zimbabwe generates US$1 billion annually from tobacco exports to over 60 countries around the world, among them China, Japan, the United Arab Emirates, Indonesia, Belgium, the United Kingdom, the United States, Brazil, South Africa, Botswana, Malawi, Egypt, Tanzania, Zambia, Mozambique and Lesotho.

A new target of 300 million kg per year has been set with plans to transform the sector into a US$5 billion industry by 2025.