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Informations News Africa News Zimbabwe: Zim rakes in US$220m from tobacco

Zimbabwe: Zim rakes in US$220m from tobacco

Harare, Zimbabwe - Zimbabwe has earned US$220 million from tobacco exports since February, a national marketing agency for the crop said Friday. The Tobacco Marketing Industry Board (TIMB) said 18.8 million kilogrammes of the crop had been exported, mainly to China, since the marketing season started mid-February. Zimbabwe is one of the major producers of tobacco in the world, and markets the crop through an auction system. TIMB said prices had averaged US$5.24 per kilogramme on the auction floors.

The agency said China was the main importer, taking more than three-quarters of the crop so far this year.

Zimbabwe expects to export around 200 million kilogrammes of tobacco this year.

Until four years ago, the crop was the country's biggest export.

Pana 16/04/2011