Zimbabwe Earns $362 Million From Tobacco Sales Since Feb. 15

Tobacco farmers in Zimbabwe earned $362 million from sale of the leaves so far this year, the Tobacco Marketing and Industry Board said.

The average price jumped 36 percent to $3.76 per kilogram (2.2 pounds) in the period from Feb. 15 to May 25, compared with the same period a year earlier, the state-run regulator said in an e-mailed statement today from Harare, the capital.

Zimbabwe, which sells tobacco that vies for quality with the U.S. crop, has sold 96.3 million kilograms of mainly flue- cured Virginia tobacco this year, the marketing body said, without giving a comparative figure.

Zimbabwe’s growers sell tobacco on auction and through contracts with merchants.

To contact the reporters on this story: Godfrey Marawanyika in Johannesburg at gmarawanyika@bloomberg.net; Brian Latham in Johannesburg at blatham@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.