US$214 Million Worth Of Tobacco Exported
The Tobacco Industry and Marketing Board (TIMB) said that Zimbabwe has so far earned US$214 million from the exportation of 52 million kilogrammes of flue-cured tobacco.
The figure translates to a 55 per cent increase in export earnings from the US$138 million earned during the same period last year.
The industry has faced the challenge of illegal buyers who buy the product at low prices thus defrauding farmers.
Finance and Economic Development Minister Mthuli Ncube on Monday said that the government is aware of the leakages and warned that appropriate measures will be taken. He said:
We are aware of the leakages in the tobacco sector, we were made aware that there was inside marketing taking place where bogus people were buying tobacco directly from the farmers and then taking it onto the floor.
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Some corrupt systems have been taking place between illegal buyers and those operating the floors, allowing the buyers to deposit their tobacco there. That is inside marketing contributing to low prices but also leakages as well. The law is taking its course because they are illegal buyers of tobacco.
