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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

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