116 000 kg sold on first day of tobacco mop-up exercise

By Chipo Musoko, HARARE, August 7 (The Source) – At least 116 000 kg of flue-cured tobacco was sold on the first day of the mop-up exercise bringing total sales for this season to 164 million kg, industry officials said on Wednesday.
The Tobacco Industry and Marketing Board (TIMB) it expected total sales to reach 165 million kg at the close of the mop up sales today.
Figures released by TIMB, Tobacco Sales Floor sold 90 000kg on day one, Boka Tobacco Auction Floors, 26 000 kg while Premier Tobacco Floors did not record any sales.
The average price for the mop-up sales was $2. 44 per kg.
Total sales for this season increased by 16 percent to $607 million compared to $519 million sold last year.
So far two million bales of tobacco had been sold compared to 1.6 million last year while 95 000 were rejected.
TIMB chief executive, Andrew Matibiri said the tobacco brought to the auction floors in the last two days “was of fair to reasonable equality with a few good bales.”
He said while the mop-up exercise had come to an end, contract sales would continue hence the 170 million kg target for this season could still be met.
Tobacco is the second top foreign currency earner after mining.
So far tobacco worth $163 million has been exported compared to $144 million last year.