• Home
  • NEWS
  • Zimbabwe tobacco production to fall 10%

Zimbabwe tobacco production to fall 10%
The area of tobacco cultivated has declined 3% to 113 000 hectares in the current season. Photo Reuters

Zimbabwe tobacco production to fall 10%

Nyasha Chingono



Zimbabwe’s tobacco production is expected to fall at least 10% to 265 million kilogrammes in 2024 from its biggest ever crop of 296 million kilogrammes last year due to an El Nino-induced drought, the industry regulator said on yesterday.



El Niño is a natural climate phenomenon in which surface waters of the central and eastern Pacific become unusually warm, causing changes in global weather patterns.



Zimbabwe is Africa’s largest tobacco producer and tobacco is one of the country’s main foreign currency earners. It brought in a record US$1.2 billion in 2023 from exports mostly to China, according to the Tobacco Industry Marketing Board (TIMB).Price



The area of tobacco cultivated has declined 3% to 113 000 hectares in the current season, from 117 000 hectares last year due to drought, said the TIMB. “There has been a decline in volumes per hectare,” TIMB chairman Patrick Devenish said at the opening of the 2024 marketing season.



About 75% of Zimbabwe’s tobacco is produced by smallholder farmers who do not have good irrigation systems, agriculture minister Anxious Masuka said yesterday, adding that this needs to be improved to help withstand climate shifts.



“It was a tough farming season, the rains were scarce. I hope that I will get a good price for my tobacco,” said Philemon Mutandwa, an independent farmer from Marondera, about 80 kilometres east of capital Harare.



The first bale of the 2024 marketing season was sold for US$4.92 per kg. Last year prices opened at US$4.35. - Reuters



Advertisments

Currency: GBP to NAD 23.01 | EUR to NAD 19.73 | CNY to NAD 2.51 | USD to NAD 18.15 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.3 | EGP to NAD 0.38 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.7 | ZWL to NAD 0.04 | BRL to NAD 3.55 | RUB to NAD 0.2 | INR to NAD 0.22 | USD to DZD 134.35 | USD to AOA 847.42 | USD to BWP 13.49 | USD to EGP 46.86 | USD to KES 130.48 | USD to NGN 1467 | USD to ZAR 18.15 | USD to ZMW 25.45 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 79530.63 Up +0.03% | Namibian Stock Exchange (NSX) Overall Index 1754.58 Up +0.81% | Casablanca Stock Exchange (CSE) MASI 13426.13 Up +0.11% | Egyptian Exchange (EGX) 30 Index 26142.84 Up +3.27% | Botswana Stock Exchange (BSE) DCI 9151.06 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 414.72/OZ UP +1.55% | Copper US$ 5.04/lb UP +4.12% | Zinc US$ 3 059.30/T UP 0.11% | Brent Crude Oil US$ 84.28/BBP UP +0.60% | Platinum US$ 1 084.88/OZ UP +2.19% |