Bloomberg News

Zimbabwe Earns $315 Million From Tobacco Sales, Daily News Says

May 11, 2012

Zimbabwe’s farmers earned $315 million from 83.6 million kilograms (184.3 million pounds) of tobacco since sales began in February, the Daily News said, citing the Tobacco Industry and Marketing Board.

Tobacco volumes rose 15 percent, while the price rose 58 percent compared with the same period last year, after floods damaged the crop in Brazil, the world’s biggest exporter of the leaf, according to the report.

Zimbabwe may lower its target crop to below 131 million kilograms because of erratic rainfall, the Harare-based Daily News said on its website.

Editor:

To contact the reporter on this story: Brian Latham in Johannesburg at blatham@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net


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