info.afrindex.com
China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
Photo from Internet
Zimbabwe's tobacco export earnings closed 2018 at $892 million from 184,1 million kilogrammes exported to different parts of the world.
According to data from the Tobacco Industry and Marketing Board (TIMB), last year’s crop was exported at an average price of $4,85 a kg. In 2017, the country earned $904 million from 182,4 million kg exported across the globe at an average price of $4,96 a kg.
Latest data from TIMB further indicates that China, which is the major consumer of the flue-cured tobacco from Zimbabwe, last year spent $449,7 million importing 59,1 million kg of the golden leaf at an average price of 7,61 a kg. In 2017, the Asian country imported 60,8 million kg of tobacco spending $479,3 million at an average price of $7,88 a kg.
Last year, South Africa, Belgium, United Arab Emirates (UAE) and Indonesia were among the top five consumers of flue-cured tobacco from Zimbabwe. South Africa spent $100,8 million importing 32,2 million kg of tobacco at an average price of $3,13 a kg.
The golden leaf is one of the country’s major foreign currency earners and the Government has recognised the sector’s contribution to the economy as evidenced by the incentives the Reserve Bank of Zimbabwe has availed to boost the crop’s output. Last year, the Central Bank increased the tobacco input finance facility from $28 million last year to $70 million in 2018.
