Tobacco Sales Down 85%

Tobacco sales in the first 10 days of trading at the auction floors have declined sharply by 85%. The Tobacco Industry and Marketing Board (TIMB) statistics show that $2.8 million worth of tobacco had been sold in the first days. Last year $30.2 million worth of tobacco had been sold in the same period.

Other stats:


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  • Only 1.6 million Kgs were delivered, compared to 10.9 million Kgs in the same period last year.
  • Average price of $1,73 per kg compared to last year’s average of $2,77 per kg

A tobacco company official spoke to the NewsDay:

Farmers are not in a hurry to sell. There is also inconsistent policy regarding access to and determination of 50% USD entitlement. Most contractors are yet to start receiving their tobacco. Many were waiting for the circular.

Last week, government-controlled media claimed that sales were now up after an intervention by the finance minister Mthuli Ncube.

Related:

More: NewsDay

Mthuli Ncube

Professor Mthuli Ncube is the Minister of Finance and Economic Development. He was the Chief Economist and Vice President of the African Development Bank, financial, economics, investment, and public policy expert, entrepreneur and academic. Professor Ncube divides his time between the private sector in Switzerland... Read More About Mthuli Ncube

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One Comment on “Tobacco Sales Down 85%

  1. farmers must not sale their tobacco because of this day light robbery by the government. it’s not fair the way the government has regulated the industry. If the government was knowing that they wanted to retain 50% of the hard earned, it should have subsidize the production of the tobacco, the government did nothing and now it wants to reap where it did not saw. The farmers took loans from contractors, is the government going to assist the farmers in repaying the loans? look at the prices at the auction floors, it’s ridiculous. This typical of the shone idiom HAKU ARIKUDYA MAZAI AYO. These poor peasant farmers are getting poorer and poorer by the day. Stop being cruel with your own people Mtuli. Next season you are are going to see the worst in terms of hectares to be planted.

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