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Zimbabwe low early burley auction prices

More than 55,000 kg of burley tobacco auctioned in the week to 17 May brought a low USD 1.48

(EUR 1.15) average per kilogram, a price the Tobacco Industry and Marketing Board (TIMB) expected to rise as the season progresses, The Standard of Zimbabwe reported.

 

Volume through 17 May was 83 per cent above last season, the newspaper reported. TIMB projects burley output will increase to 300,000 kg from 60,000 kg.

"The majority of the crop is of low quality. We expect that when farmers start reaping higher up, the prices will also rise," said TIMB Chief Executive Officer Andrew Matibiri as reported by The Standard on its website. (20 May 2013)