Zim earns US$458,5m

Zimbabwe has so far earned US$458,5 million from 183,3 million kilograms sold since the selling season opened on April 29 this year, statistics from the industry regulator show.

The 2020 marketing season, which usually starts in March, was delayed due to the Covid-19 pandemic and is being conducted under strict conditions.

In a trading update on day 108, the Tobacco Industry and Marketing Board said the sales were 11,36 percent lower than last year’s, which stood at US$517,2 million.

The average price at auction and contract floors was US$2.50 per kg, higher than US$2,03 in the same period last year.

The crop has so far-fetched a highest price of US$6,60 per kg while the lowest has been 0,10 cents per kg.

Rejected bales declined by 60,30 percent from 204 203 in 2019 to 81 076 this year. — New Ziana.