Zimbabwe: Zim rakes in US$200m from tobacco exports

Harare, Zimbabwe - Tobacco merchants in Zimbabwe said Thursday the country had earned US$199.3 million from exports of the crop so far this year, and earnings were expected to rise further as the marketing season is still in progress.

The Tobacco Industry Marketing Board said a total of 65.3 million kilogrammes of tobacco had so far been exported, mainly to Asia, Middle East and Europe.

It said prices, averaging US$3.09 per kilogramme, were firmer this year than last year because of shortages on the world market after storms destroyed much of Brazil's crop.

The Latin American country is a large tobacco producer, but the storms drastically reduced its crop output this year.

The board said this improved average prices and export earnings.

Zimbabwe expects to export more than 80 million kilogrammes of tobacco this year.