Harare – Zimbabwe’s tobacco export earnings so far in 2019 has reached US$142,2 million, an increase of 122% from $63,5 million recorded in the comparative period last year.
According to the Tobacco Industry and Marketing Board (TIMB), weekly report ending 8 February 2019, the crop was exported at an average price of $5 a kg, recording 28,2 million kg exported across the globe.
According to TIMB, 34 countries have imported flue-cured tobacco from Zimbabwe compared to 25 in the same period last year.
Latest data from TIMB further show that China, which is the major consumer of the flue-cured tobacco from Zimbabwe, has already spent $71,6 million importing 8,1 million kg of the golden leaf at an average price of $8.84 a kg. In the comparative period last year, the Asian country imported 5,2 million kg of tobacco spending $32,6 million at an average price of $6.28 a kg. With an estimated 350 million smokers, China has been spending over $200 million per annum on Zimbabwean tobacco, regarded among the best in the world.
South Africa, Belgium, Mozambique and United Arab Emirates makes up the top five consumers of flue-cured tobacco from Zimbabwe. In the same period last year, Mozambique was on the 14th place with Indonesia making up the top five.
South Africa has so far spent $30,3 million importing 7,6 million kg of the golden leaf at an average price of $3,96 a kg.
Zimbabwe’s regional market also appears to be expanding with Mozambique having imported 2,1 million kg of tobacco worth $4,5 million at an average price of $2,39 a kg. At this same period last year, the Eastern neighbor had spent $581 thousand on tobacco imported from Zimbabwe.
Other buyers are from Poland, Sudan, Netherlands, Russia, Germany, Georgia, Hong Kong, Vietman, United States and Taiwan.
Meanwhile, tobacco farmers are pleading with government to consider allocating them a higher percentage of foreign currency when they sell their crop during the 2019 marketing season to cover for the high operating costs incurred and for productivity to remain viable.
Tobacco is one of the country’s major foreign currency earners and the government has earmarked the agriculture industry along with the mining and tourism sectors as the key drivers towards achieving the vision of transforming the country into a middle-income economy by 2030.
Last year, the country earned $892 million from 184,1 million kg exported to different parts of the world. In Zimbabwe tobacco is sold between March and August, while exports take up to December per calendar year.
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