Zimbabwe tobacco auctions ahead
ZIMBABWES tobacco auctions are finishing with prices and volumes slightly higher than forecast when the sales opened in April, reports the Financial Times.
Leaf price has averaged 175.1US¢/kg – against last years 172.4¢ – with 99% of the crop sold.
Prices had been forecast to decline before the sales began.
The crop has been estimated at 189 million kg, down 12.5% against last year. Gross earnings by growers are estimated at US$330m, a fall of 11% against last year.