Tobacco exports have generated US$1,1 billion between January and November this year from the sale of 201,415 million kilogrammes of the semi-processed crop at an average price of US$5,66 per kg, official data shows.
Statistics from the Tobacco Industry and Marketing Board indicate that during the same period last year, the country had exported 208,4 million kilogrammes of the crop valued at US$1 billion at an average price of US$5,52 per kg.
The Far East Market has remained the major destination of the semi-processed leaf after procuring 89,1 million kilogrammes of tobacco worth US$630,703 million from Zimbabwe at an average price of US$7,08 per kilogramme.
Africa is in second position after buying 33,003 million kilogrammes valued at US$154,638 million at an average price of US$4,69 per kilogramme.
In the third position is the Middle East, which bought 30,033 million kilogrammes worth US$87,99 million at an average price of US$2,93 per kilogramme.
The European union is in fourth position, importing 27,249 million kilogrammes of tobacco from Zimbabwe worth US$158,785 million at an average price of US$5,83 per kilogramme.
Europe is in fifth position, importing 12,8 million kg of tobacco worth US$65,254 million at US$5,09 per kilogramme.
Zimbabwe exported 9,141 million kilogrammes valued at US$42,189 million to the Americas at an average price of US$5,66 per kilogramme, while Oceania bought 28,560 kilogrammes worth US$241 332
Oceania offered the highest price of US$8,45 per kilogramme.
Zimbabwean tobacco is popular in the international market because of its flavour.
The Government and the private sector are working towards increasing local processing of tobacco to boost income.
Zimbabwe is collaborating with international partners, particularly China, to increase tobacco production to 500 million kilogrammes through sustainable practices.
This is intended to balance economic growth with environmental responsibilities.
This strategy, which also promotes value addition and beneficiation, focuses on environmentally-friendly cultivation methods, efficient processing and innovative marketing techniques to ensure economic viability for farmers while adhering to sustainability goals.
Tobacco is critically important to Zimbabwe’s economy, as it is the country’s leading agricultural export, a major source of foreign currency, and a significant contributor to Gross Domestic Product.
In 2024, tobacco exports generated US$1,3 billion and accounted for approximately 30 percent of total exports, a significant chunk of the country’s GDP. – Herald
