Tobacco rakes in over US$500 million

By Davison Vandira Business Reporter
THE 2021 Tobacco Marketing season is slowly coming to an end with more than half a billion united states dollars having been raked in.
The Tobacco Industry and Marketing Board in statement released this Thursday advised stakeholders that the last deliveries for Auction Tobacco will be on the 13th of this month with clean up sales slated for the 5th of August.
The 2021 tobacco selling season will go down in history as one of the most successful seasons in terms of the volumes sold and the quality of the crop which attracted prices of up to US$6.70.
It is exactly 64 days since the first tobacco bale went under the hammer and more than 183 Million Kilogrammes have been sold compared to 159 million Kilogrammes during the same period last season.
More than half a billion United states dollars have so far been raked in which is a significant 30 percent increase from last year’s 390 million United states dollars.
A massive 2.4 million bales have been successfully sold against last season’s 1.9 million depicting a 22 percent upward surge.
TIMB has however given exception to tobacco contract selling to continue beyond the 14th of July on account of huge volumes which are still coming in.