Flue-cured tobacco generates $607 million

By Chipo Musoko, HARARE, August 8 (The Source) – Earnings from this year’s sales of flue-cured tobacco rose by 16 percent to $607 million compared to $520 million last year due to increased output.
The Tobacco Industry and Marketing Board (TIMB) said 165 million kg was sold this year compared to 141 million kg last year, falling five million kg short of the 170 million kg target.
The tobacco sold at an average price of $3.68 per kg this season at the three participating auction floors – Tobacco Sales Floor, Boka Tobacco Auction Floors and Premier Tobacco Floors.
At least two million bales were sold compared to 1.6 million last year.
The number of rejected bales were 95 000 compared to 99 000 last year.
The two-day mop-up sale which opened on Tuesday, saw 155 000kg going under the hummer although sales on the last day were low compared to the first day.
On day one 116 000kg were sold and 38 000kg on the last day.