Tobacco sales up


A TOTAL of 48 million kg of flue-cured tobacco valued at US$110 million (about $30 billion at the interbank rate) have gone under the hammer at the country's three auction floors.
Figures obtained from the Tobacco Industry and Marketing Board (TIMB) showed revealed that the deliveries were 6

1,43% more than the 28,8 million which were sold at the same period last year.
In monetary terms last year’s sales for the same period were 374,25% less at US$56,2 million ($5,6 billion) in Zimbabwe dollar terms due to hyperinflation.
Inflation which is currently at 4 530% for May was 1193,5% during the corresponding period last year.
A total of 513 031 bales have gone under the hummer so far compared to 339 509 last year.

Post published in: Economy

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