TIMB statistics showed that 4,9 million kg valued at $11,4million had sold up from 3,5 million kg valued at $8 million recorded during the same period last year.
Tobacco is being sold for an average price of $2,31 per kg, down from $2,25per kg over the same period last year.
The total auction sales stood at 2,4million kg valued at $4,1 million, while contract sales were 2,5 million kg at $7,2 million.
According to a TIMB report, the number of farmers registered as tobacco growers declined by 21% to 73 592 compared to 93 450 during the same period last year.
Of that, 9 333 were new growers, down from the 17 466 new tobacco farmers registered in 2015.
The country is expected to record a 20% decline in tobacco output this year from 198 million kg produced in 2015.
Tobacco sales are expected to inject fresh liquidity into the economy. This year’s sales started off on a low note after a new system where farmers’ money was deposited into their accounts faced challenges as banks did not have adequate cash.
The situation has since been addressed.
News Day