Monday, July 13, 2009

Zimbabwe tobacco price pushed up

Bangkok News.NetSunday 12th July, 2009
Zimbabwe has had an excellent season for tobacco prices if not for the actual crop. It has been the second smallest crop in more than 50 years. Tobacco auctions in Zimbabwe this year have been notable for record prices due to land seizures and thousands of smaller-scale tobacco farmers not growing tobacco this season due to lack of ability to borrow from the banks. Zimbabwe's 2009 tobacco crop will earn about $160 million this selling season with the average price at about US$3.60 a kilogram. Most tobacco will be exported to Europe with China now also an important buyer.

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