Zimbabwe earns more than 100 mln USD from tobacco

• Source: Xinhua
• [11:20 July 08 2009]
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Zimbabwe has so far earned 102.7 million US dollars from the sale of 34.9 million kilograms of flue cured tobacco at an average price of 2.94 dollars since the marketing season started in May.

This is compared to 27 million kgs worth 85.5 million dollars that were sold at an average price of 3.16 dollars during the comparative period last year, New Ziana said on Tuesday.

Of this year's total, 22.1 million kgs were sold through the contract system while 12.8 million kgs were sold through the auction system.

Tobacco Industry and Marketing Board (TIMB) chief executive Andrew Matibiri said they were optimistic of meeting the target of 42 million kgs this year.

 "We will meet the target comfortably," he said. Last year 75 million kgs of the golden leaf went under the hammer. Matibiri said farmers were happy with the current prices even though they were slightly lower than last year.

The marketing season was expected to draw to a close at the end of August.