The 2023 tobacco selling season officially opened yesterday with the Government calling for transparency among actors in the industry to eliminate farmer deprivation by middlemen while enhancing fairness and sustainability in contract and auction sales.
The first bale fetched US$4,35 per kg which was slightly higher than the US$4,20 per kg fetched by the first bale last year.
Sales are being conducted at the Tobacco Sales Floor (TSF) and Premier Tobacco Auction Floors (PTAF).
The official opening was held at the TSF where the auctioning of the first bale was witnessed by Lands, Agriculture, Fisheries, Water and Rural Development Minister Dr Anxious Masuka and Vice President Dr Constantino Chiwenga.
Production is this year expected to increase by 8,5 percent year-on-year and foreign currency retention hike is part of Government’s efforts to ramp up production to a national target of 300 million kg by 2025 which is a key anchor of the broader national strategy of an upper middle-income economy as set by President Mnangagwa.
The golden leaf, as tobacco is colloquially referred to, is the country’s single second largest foreign currency earning export product after gold and the Government is keen to see its continued production growth, as Government targets to grow the sector to a US$8,2 billion economy.
Officially opening the 2023 tobacco marketing season yesterday, Vice President Dr Chiwenga urged Tobacco Industry and Marketing Board (TIMB) to ensure fairness as a regulatory board adding that growers should get a decent return for their effort.