Tobacco rakes in US$136 million

By Tendai Munenegwa

TOBACCO exports have so far raked in USD136 million compared to just USD37 million during the same period last year.

TIMB Board Chairperson, Patrick Devenish attributed the big jump in exports to the resumption of shipping which was affected by COVID-19 last year.

“Yes,last year the exports by merchants dwindled because China, as you are aware is our biggest export market for tobacco but due restrictions triggered by COVID-19, exporting became difficult for our merchants .I am however glad , to say that the shipping has started to improve and this has seen our merchants now exporting,” he said.

Countries in the Far East including China were the major export markets for tobacco, accounting for USD87 million worth of the golden leaf this year as compared to just USD9 million United last year.

Exports to the Middle East and European Union are valued at USD7 million, while those destined for the African market declined from eight million United States dollars last year to six million United States dollars this year.