Tobacco deliveries surpass 200 million kg target

By Tendai Munengwa
THE 2021 tobacco marketing season which has continued under the contract system has surpassed the set target of 200 million kilogrammes and raked in over US$550 million.
Farmers have once again scored another bountiful success in tobacco production with deliveries for the current marketing season now going past the set target of 200 million kilogrammes.
Tobacco industry and marketing board (TIMB) chairperson, Patrick Devenish revealed that deliveries of the golden will hit new heights of about 205 million kgs.
“We are currently at almost 199 million kgs and by end day we will definitely hit the target of 200 million. There is still a lot of tobacco out there – we are likely to hit 205 million kgs by end of season,” he revealed.
Turning to the US$60 million tobacco fund, Devenish says local funding will create a conducive environment to revive the competitive auction floors marketing system.
“We want to break the auction floor matrix of US$4.99 lead. So the local fund will enable us to return the forex revenue in the country. We would like to see auction floors being revived,” he said.
The coming into effect of the 60 million United States dollar local tobacco funding is expected to see the country raking in 30 percent of the net foreign currency up from the current 12.5 percent foreign currency returns.

%d bloggers like this: