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Zimbabwe's Tobacco Export Revenue Surges by 138% in 2024

Market by 2FIRSTS.ai
May.17.2024
Zimbabwe's Tobacco Export Revenue Surges by 138% in 2024
Zimbabwe's tobacco export revenue increased by 138% in the first quarter of 2024, reaching $4.36 billion, driven by high-value market focus.

According to a report by The Pioneer on May 16, as cigarette manufacturers are urged to tap into high-wage markets, Zimbabwe's tobacco export revenue in the first quarter of 2024 increased by 138% year-on-year to reach $4.36 billion.

 

The country is a major exporter of tobacco, aiming to generate more revenue from its business by shifting towards higher value products such as cigarettes. In 2021, the government passed the Tobacco Value Chain Transformation Plan, striving to establish a $5 billion industry by 2025.

 

According to statistics from the Tobacco Industry and Marketing Committee, cigarettes are the most profitable export product, priced at $7.44 per kilogram. Partial or fully stemmed tobacco ranks second, with revenue of $7.39 per kilogram, and smoking tobacco ranks third, with revenue of $6.45 per kilogram.

 

The President of the Zimbabwe Tobacco Growers Association, George Seremwe, attributes these achievements to the hard work of farmers and other stakeholders, as well as favorable weather during the 2022-2023 growing season, resulting in high-quality tobacco. He encourages cigarette manufacturers to continue targeting markets that will ensure high prices for their products.

 

References:
[1] Zimbabwe Tobacco Export Earnings Jump
Also Read:
[1] Brazil's Anti-Smoking Project in Amazon: Progress and Challenges
[2] Polish Health Ministry Proposes Ban on Flavored Tobacco Products
[3] The Urgent Need for Strong Tobacco Control Measures in the US
#Traditional tobacco#Market#Africa#Zimbabwe

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