Zimbabwe tobacco exports hit record high, reaching 153 million kg so far this year

According to a report from ALD on the 23rd, Zimbabwe's tobacco exports have reached 153 million kg this year, with a total value exceeding $758 million, setting a new record. This figure is expected to continue growing, as some of the tobacco crop purchased from 297 million kg is still being processed and sold.<\/p>

Compared to 125 million kg last year, valued at $566 million, this year's 153 million kg export signifies a 28% increase in export revenue, as Zimbabwe strives to achieve an annual target of over $1.6 billion.<\/p>

Zimbabwe is statistically recognized as Africa's largest tobacco producer, ranking sixth globally, behind China, India, Brazil, the United States, and Indonesia.<\/p>

Zimbabwe produced 297 million kg of tobacco this quarter, compared to 206 million kg in the previous quarter, marking a significant milestone since the beginning of tobacco cultivation in Zimbabwe.<\/p>

According to data from the Tobacco Industry and Marketing Board (TIMB), the top three regions for Zimbabwe's tobacco sales are the Far East countries, the EU market, and African countries, with the Far East countries leading at 62 million kg of tobacco valued at $441 million, averaging $7.06/kg.<\/p>

At the same time, Zimbabwe's tobacco product export value has been steadily rising, reaching $795 million in 2020, $837 million in 2021, and nearly $998 million last year. This year's revenue is expected to exceed $1.6 billion.<\/p>

90% of Zimbabwe's tobacco production is by small-scale farmers, aligning with the government's economic transformation plan to ensure no region, village, or farmer group is left behind.<\/p>

Zimbabwe is the fourth largest tobacco producer globally and the only developing country among the six major producers, unlike China, India, Brazil, Indonesia, and the United States, Zimbabwe largely relies on tobacco exports.