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S Africa tops as Zimbabwe’s biggest tobacco buyer

SOUTH Africa has overtaken China as the biggest buyer of the country’s golden leaf as of last week, according to latest statistics from the Tobacco Industry and Marketing Board (TIMB).

BY OUR STAFF

South Africa bought 10 432 871kg worth US$30 882 167,98 at an average price of US$2,96 per kg.

China was a distant fourth after buying 2 585 700kg of the golden leaf behind Belgium (7 305 470kg) and United Arab Emirates (4 160 112kg).

During the same period last year, China was on top having bought 6,9 million kg of tobacco with South Africa on fourth place.

TIMB chief executive officer, Andrew Matibiri said South Africa had a huge internal demand for tobacco to be manufactured into cigarettes but said that exports to China would peak as the year progresses.

Matibiri said that China accounts for 40% of the country’s tobacco output.

The highest export price has been US$10,03 per kg offered by Japan when it bought 600kg.

Bosnia offered the lowest price after buying 79 200kg for US$0,25.
Matibiri said the disparity in prices was a result of the tobacco grade, adding that Japan buys top quality crop.

As of last week, 41 295 602kg of tobacco had been exported, raking in US$ 163 035 255,97.

Tobacco is one of the largest foreign currency earners in the economy.

TIMB projects that 170 million kg of tobacco would be sold this year. As of last week, 165 412 135 had been sold, raking in US$609 232 676.

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3 Responses to S Africa tops as Zimbabwe’s biggest tobacco buyer

  1. Lindo August 11, 2013 at 3:08 pm #

    facts are stubborn hey!south africa is still zimbabwe`s biggest trading partner yet zim continues to bite the hand that feeds it.recently we had mugabe scolding south africa and also Lindiwe Zulu.around 4mil zimbabweans are in S.A.

  2. george bachinche August 12, 2013 at 10:35 am #

    Business is business. Its not SA government that is buying tobacco but private companies. Also its not the Zim Government which is selling tobacco, but farmers. Using your logic, when and where did you hear tobacco farmers ‘scolding’ SA companies?

  3. Lindo August 12, 2013 at 5:39 pm #

    @george dont behave like an idiot.the South African companies you are talking about operate under South African laws,if sanctions are put on zim no company will trade or buy anything from zim-American companies are not allowed to deal or make bussiness with any country(s) that America sanctions.Facts are stubborn and those that ignore facts like you are either corrupt or denialists.zim depends on S.A they import many things from S.A some zimbabweans import little things like bread from S.A.

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