In 2022, Zimbabwe's tobacco sales increased from $589 million in the previous year to $650 million, with both prices and sales seeing an upward trend.
As a subsidiary industry of agriculture, Zimbabwe's tobacco industry aims to become a $5 billion worth sector by 2025. According to the latest data from the Tobacco Industry Marketing Board (TIMB), sales grew by 10.3% and volumes increased by 0.75% in 2021.
In a statement announcing the end of the 2022 tobacco marketing season, TIMB expressed its satisfaction with increased sales and delivery to auction houses. "TIMB wishes to inform all stakeholders that the final tobacco sales for the 2022 marketing season will be on October 21, 2022. Therefore, all contracts and auction houses will be closed," the statement read.
As of October 21, 2022, Zimbabwe has sold a total of 212,000 tons of tobacco, worth $650 million. This marks a positive increase from the 211,000 tons sold at $589 million during the same time period in 2021. According to the Tobacco Industry and Marketing Board (TIMB), Zimbabwe's tobacco industry is projected to reach its goal of $5 billion in value.
The growth in both sales volume and value of tobacco proves that our industry is making efforts towards establishing a $5 billion industry by 2025," stated a spokesperson for TIMB.
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