Zimbabwe tobacco farmers paid $551million


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Zimbabwe’s tobacco sales are down 7.3 percent to 185.6 million killogrammes after heavy rains affected output, figures from the industry regulator have shown.

The Tobacco Industry and Marketing Board (TIMB) said $551 million was paid out to farmers at the auction floors compared to $589.3 million last year.

Auction sales were concluded last Friday.

The southern African nation had targeted an output of 215 million kg.

Tobacco is the country’s second largest foreign currency earner after gold, and authorities are counting on earnings from the crop to ease a crippling dollar note shortage.- The Source

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The Insider

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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