Latest News Editor's Choice


Business / Companies

The gold leaf on sale next month

by Byo24NEWS | Sports
25 Jan 2011 at 02:11hrs | Views
The Tobacco selling season is set to start mid February, The Tobacco Industry and Marketing Board (TIMB) advised. The auction floors for the 2010/11 tobacco selling season will be opened on February 15.

It is estimated that output will increase to 150 million kilogrammes from about 90 000 hectares in the next season.

In the 2009/10 season, 123, 5 million kilogrammes of tobacco was sold, grossing $137 million.

The bulk of the output was produced by small-holder farmers. $161 million, from 2009 growers' proceeds and private financing, financed the cropping.

Contract farming is also expected to increase to 40 000 hectares from 30 000 hectares last year due to facilities that have been availed by the banking sector.

"BTF will only open as and when the sales floor is ready for business," TIMB said in a statement.

With almost 4500 white farmers being kicked out of the farms no-one had given new farmers the chance of producing such tobacco. Maybe the land reform was not a failure after all.


Source - Byo24NEWS

Subscribe

Email: