Tobacco farmers to be paid 85% in foreign currency- TIMB

During the 2023 Tobacco Marketing Season, tobacco growers shall be paid 85% of their sales proceeds in foreign currency and 15% in local currency.

This has been disclosed by the Tobacco Industry and Marketing Board (TIMB) a regulatory & advisory statutory board whose functions include controlling & regulating the farming, marketing & exporting of tobacco in Zimbabwe.

Tobacco also known as the golden leaf, is one of Zimbabwe’s biggest foreign currency earners.

In recent years, raw tobacco has been the 2nd most exported product in Zimbabwe.

The main destination of Raw Tobacco exports from Zimbabwe were: Mozambique, Indonesia, South Africa, Netherlands and United Arab Emirates.

Zwnews