As the tobacco selling season comes to an end this week, farmers are counting their losses while the TIMB indicated that the target of 177 million kg would not be met.
A clean-up sale will be held on September 20 and, depending on the volume of deliveries, would continue for more than one day, until all delivered tobacco has been sold.
Statistics from the TIMB show that 129,9m kg, a 11% increase from the same period last year, had been auctioned at the country’s three auction floors by Thursday.
Tobacco sales raked in US$356 582 527, representing a 4% increase from the same period last year.
TIMB Chief Executive Officer, Andrew Matibiri said drought and other factors such as re-grading of tobacco impacted negatively on the projected target as 130 million kg of tobacco have so far been auctioned raking in US$375 million.
During the current marketing season, tobacco farmers were hit with intermittent rains, forcing them to embark on the re-handling exercise which accounts for 21% in losses.
Other weather-related conditions in farms affected the golden leaf accounting for 31% of losses. At best the sales would reach 140 million kg, more than 17% short of the target.
However, the tobacco industry can take comfort in the fact that it had reduced the percentage of rejected bales to 7% by Thursday from 8,28% recorded in the same period last year.
Post published in: Business