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Zimbabwe's tobacco export earnings reach US$1.3 billion in 2024
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Zimbabwe's tobacco export earnings reached US$1.3 billion in 2024, a notable increase from US$1.23 billion in 2023, marking the second consecutive year that earnings have surpassed the US$1 billion mark. This growth is attributed to strengthening global prices and rising demand for the country's flue-cured tobacco.
According to the Tobacco Industry and Marketing Board (TIMB), by December 27, 2024, 243.3 million kilogrammes of tobacco had been exported, generating US$1.39 billion. This compares favourably to the 235.4 million kilogrammes worth US$1.23 billion exported during the same period in 2023.
TIMB public affairs officer Chelesani Tsarwe highlighted that Zimbabwe's tobacco was shipped to over 52 destinations worldwide. "The unique flavour of Zimbabwe's flue-cured tobacco remains highly sought-after in international markets, particularly in Far Eastern countries such as China and South Korea, as well as in the Middle East," Tsarwe said.
The rising prices of tobacco have sparked increased interest among farmers, evidenced by a 30% surge in seed sales this year. Predictions of normal to above-normal rainfall for the 2024/25 cropping season have further fueled optimism in the sector.
By late 2023, 95,375 farmers had registered with TIMB, up from 69,640 in the previous year.
Zimbabwe Farmers Union chief economist Prince Kuipa expressed his satisfaction with the volumes produced under challenging conditions. "The majority of tobacco growers are smallholder farmers who were allocated land under Zimbabwe's land reform programme," he said.
"Despite limited access to advanced farming equipment and financial resources, these farmers continue to perform remarkably, even amid challenges like droughts. Although the El Niño-induced drought affected most rainfed crops in 2024, Zimbabwe managed to maintain a strong tobacco output, underscoring the crop's resilience."
Kuipa also emphasized the crop's economic importance, noting that revenue from tobacco exports significantly contributes to Zimbabwe's foreign currency earnings.
According to the Tobacco Industry and Marketing Board (TIMB), by December 27, 2024, 243.3 million kilogrammes of tobacco had been exported, generating US$1.39 billion. This compares favourably to the 235.4 million kilogrammes worth US$1.23 billion exported during the same period in 2023.
TIMB public affairs officer Chelesani Tsarwe highlighted that Zimbabwe's tobacco was shipped to over 52 destinations worldwide. "The unique flavour of Zimbabwe's flue-cured tobacco remains highly sought-after in international markets, particularly in Far Eastern countries such as China and South Korea, as well as in the Middle East," Tsarwe said.
The rising prices of tobacco have sparked increased interest among farmers, evidenced by a 30% surge in seed sales this year. Predictions of normal to above-normal rainfall for the 2024/25 cropping season have further fueled optimism in the sector.
By late 2023, 95,375 farmers had registered with TIMB, up from 69,640 in the previous year.
Zimbabwe Farmers Union chief economist Prince Kuipa expressed his satisfaction with the volumes produced under challenging conditions. "The majority of tobacco growers are smallholder farmers who were allocated land under Zimbabwe's land reform programme," he said.
"Despite limited access to advanced farming equipment and financial resources, these farmers continue to perform remarkably, even amid challenges like droughts. Although the El Niño-induced drought affected most rainfed crops in 2024, Zimbabwe managed to maintain a strong tobacco output, underscoring the crop's resilience."
Kuipa also emphasized the crop's economic importance, noting that revenue from tobacco exports significantly contributes to Zimbabwe's foreign currency earnings.
Source - newsday
