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OpenZimbabwe Tobacco Export Revenue Climbs To US$1.3 Billion In 2024
Zimbabwe’s tobacco export earnings reached an impressive US$1.3 billion by the end of December 2024, an increase from US$1.23 billion during the same period the previous year.
This growth was fueled by strengthening global prices and rising demand, marking the second consecutive year that the country’s tobacco exports surpassed the US$1 billion threshold.
Chelesani Tsarwe, Public Affairs Officer at the Tobacco Industry and Marketing Board (TIMB), credited this surge to the distinctive flavour of Zimbabwe’s flue-cured tobacco, which continues to be highly sought after in international markets. She said:
As of December 27, a total of 243,356,791 kilograms of tobacco valued at US$1,389,185,982 had been exported, compared to 235,431,092 kilograms worth US$1,232,112,788 during the same period last year.
The majority of Zimbabwe’s tobacco exports are directed towards Far Eastern markets, particularly China and South Korea, followed closely by Middle Eastern countries like Iran.
According to the TIMB, Zimbabwe’s tobacco was shipped to over 52 destinations worldwide.
The rising prices of tobacco have sparked increased interest among farmers, resulting in a remarkable 30% surge in seed sales this year.
Predictions of normal to above-normal rainfall for the 2024/25 cropping season have further fueled optimism within the agricultural sector.
By late 2023, TIMB data revealed that 95,375 growers had registered, a significant increase from 69,640 during the same period the previous year.
Tsarwe said many farmers registered early to meet deadlines and avoid issues related to side marketing.
She also said that the registration process is crucial, as it provides essential statistical information about the number of growers and anticipated crop output.
More: Pindula News
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