Zimbabwe’s tobacco industry kicks off a promising marketing season today, with expectations of 280 million kg of high-quality tobacco.
Smallholder farmers are thriving, creating a rural middle class and cementing Zimbabwe’s status as a top global tobacco producer.
Farmers to receive 70 percent of sales in USD and 30 percent in local currency at the prevailing exchange rate.
Tobacco Industry and Marketing Board has warned against side marketing as new biometric system tightens regulation to protect growers and the industry.
Meanwhile, the first auction sale today will determine the tone and the best tobacco pricing matrix for this season.
Speaking ahead of the opening TIMB’s Acting Chief Executive Officer, Emmanuel Matsvaire said:
“From our assessment, the farmers have produced a good quality crop and are ready to deliver the third golden leaf for sale. All our systems are in place to ensure a smooth take off.
Tobacco is one of the country’s major source of foreign currency.
Zwnews
