Business

Analysis: Zimbabwe Profit More Than $221m From Tobacco Sales

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Zimbabwe said it has earned $221.32 million after selling 95 million kilograms of tobacco leaf since the selling season opened on April 29.

In a trading update, the Tobacco Industry and Marketing Board said the sales were 40 per cent higher than that of last year, which stood at $158.07 million.

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The average price at auction and contract floors was $2.33 per kg, higher than $1.79 in the same period of last year.

Tobacco is Zimbabwe’s second largest foreign currency earner behind gold.

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The country sold 259 million kg of tobacco leaf worth more than $500 million last year, up from 253 million kg in 2018. (Xinhua/NAN)

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