Harare – The Tobacco Industry and Marketing Board (TIMB) has extended the current selling season with 8 days after setting the closing date at July 27, 2018. The set date will position the current selling season as one of the longest at 88 days which is ahead of the prior year’s 76 days.
The extended days clearly reflect the strong volumes performance in the current year which at day 78 was 34 percent ahead of the previous year after 232 million kgs were sold which compares to 194 million in the 2017 marketing season.
A tobacco expert Solomon Mangwiro said there is a sharp decline at the auction floors a clear indication that the 2018 tobacco marketing season is finally coming to an end.
“The volumes are declining and other companies have already closed. It has been a good season considering the quality of delivered tobacco in light of the poor rainfall patterns experienced this season, so farmers have performed beyond expectations,” he said adding that floors now have huge consignments of tobacco already processed and ready for export.
Tobacco performance to date, has gone beyond target and is already is at a post dollarisation highest aiming to beat the record 2000 high of 236 million kgs. According to Equity Axis financial analysts, the current Tobacco hype is worth celebrating.
