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Tobacco export stocks hit lowest level in five years

    JOHANNESBURG

    Stocks of export tobacco from Zimbabwe are at their lowest level in five years, news reports said on Tuesday.

    The latest report of the Tobacco Industry and Marketing Board (TIMB) showed that Zimbabwe has so far consigned over 46,000 mt of the tobacco overseas, compared to more than 77,000 mt in the same period last year. TIMB also noted that this time last year the country had close to 75,000 mt worth of stocks on hand compared to the current 54,000 mt.

    Tobacco accounts for nearly one third of the country’s total foreign currency income.

    Zimbabwe Tobacco Association (ZTA) marketing director Pat Davis was quoted as saying that the sector could withstand the knocks caused by current political strife provided there was a return to law and order.

    He said that land invasions coupled with unattractive prices on the country’s tobacco sales floors at the start of the selling season last month had dampened spirits in the once vibrant industry.

    Davis said the 1,400 commercial farmers who grow the bulk of the country’s tobacco were currently suffering from “low morale”.

    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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