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Tobacco prices down

    JOHANNESBURG

    Prices for tobacco, which accounts for one third of Zimbabwe's foreign currency income, have gone down to an average of 168.5 US cents per kilogramme this year compared to 172.8 US cents last year, according to news reports quoting industry sources.

    Zimbabwe is the world's second major porducer of Virginia tobacco after Brazil. "There is no doubt the drop in tobacco earnings will have have negative impact on the economy," AFP quoted a tobacco industry source as saying. "It is a very sad coincidence that it should happen this year when the country is in poort shape." The source blamed a combination of heavy rains and Brazil's huge output at more attractive prices.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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