Story by Davison Vandira
THE tobacco industry has become the leading cash crop in the country this year after generating more than US$800 000 000 (US$800 million) in 76 days of trading as the marketing season approaches its tail end.
285 000 000 (285 million) kilogrammes of tobacco have so far gone under the hammer, representing a massive 51 percent growth from last season’s 186 000 000 (186 million) kilogrammes during the same period.
The quality this season has also been an outstanding feature which saw the average price being US$3, pushing the country’s earnings to US$848 000 000 (US$848 million), depicting a 50 percent increase from the previous year’s figure of US$564 000 000 (US$564 million).
The number of bales laid increased by 47 percent from 2.4 million to 3.6 million, thanks to the Tobacco Industry and Marketing Board’s training workshops on proper packaging before availing them at the auction floors.
The country’s agriculture transformation has seen the sector meeting its target of US$8 billion ahead of schedule.
“2023 has been a great year for us as a ministry and we have attained our US$8 billion target and we are moving to review all the targets within our sector so that we may work on the new targets,” said Mr Abraham Mashumba, Director Strategic Planning Ministry of Lands, Agriculture, Fisheries, Water and Rural Development.
Zimbabwe’s economic development agenda is underpinned by high productivity in productive sectors, with success in agriculture feeding into that agenda.
