Monday, March 11, 2013

(STICKY) (NEWZIMBABWE) Tobacco earnings up 3 percent

COMMENT - Gee, those 'friends and cronies of Mugabe' got really busy growing tobacco after dollarisation, didn't they? Zimbabwe tobacco exports crashed when the Zimbabwe Dollar crashed - both in 2002, not 1999 or 2000 when the 'farm invasions' started - and it rebounded with dollarisation. It was caused completely by the destruction of the Zimbabwe Dollar. So what destroyed the Zimbabwe Dollar in 2002? Well that was ZDERA of 2001 going into effect on Jan. 1st 2002. Zdera caused the fall of the Zimbabwe Dollar in 2002 which then caused the collapse of tobacco exports, and dollarisation eliminated inflation and caused the 280% rebound in tobacco production and exports the year thereafter. No sudden increase in tobacco growing by 'friends and cronies of Mugabe', but of the hundreds of thousands of families who benefited from land reform.

Zimbabwe Dollar/US Dollar Chart, courtesy of the Economist Intelligence Unit notice the fall in 2002, and business as usual throughout 2001 and 2000.

Tobacco earnings up 3 percent
10/03/2013 00:00:00
by NewZiana

ZIMBABWE’S tobacco industry has earned US$51.7 million since the marketing season began in February, an increase from $1.4 million over the same period last year. The sector sold 14.6 million kg of tobacco at an average of US$3.54 per kg, up from 13.8 million kg sold last year.

Statistics from the Tobacco Industry and Marketing Board show at least 9.58 million kg of tobacco were sold through contract sales while the remainder went under the hammer.

Last year, Zimbabwe produced about 144.5 million kg of tobacco and raked in US$527.6 million sales, surpassing the projected 130 million kg.

Since the adoption of multiple foreign currencies, the tobacco industry has become one of the fastest to recover from the economic meltdown over the last decade.

The sector has been on a rebound as over 70,0000 farmers have registered to grow tobacco this season.

Tobacco is one of Zimbabwe's major agricultural exports and accounts for 10.7 percent of the country’s gross domestic product.
Major export destinations include China, UK, South Africa, Indonesia, the United Arab Emirates, Mauritius and Russia.


COMMENTS

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Nkoko365

how much tobacco and maize or mineral output has tsvangirai personally funded, harvested or brought to the market
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lawrencestoke

HAHA looking for a job?? The problem with MDC dimwits is that you look for jobs while others are looking for EMPLOYEES. You want to be owned and looked after nevarungu ka? Ndopanoperera pfungwa dzenyu ipapo. Idiots.
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Gandadema

Bassman, if you are still looking for a job at this point in Zimbabwe you are a disgrace to your family, own a farm, mine or an industry even a fishery to be counted amongst men.
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Gandadema

Good point Nkoko.
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lawrencestoke

Go on black farmers!!! The land is yours. We thank God for the increase. Some people in the MDC still believe that all land was given to Mugabe's friends and is lying fallow. The facts on the ground are different. The newly landed "small people" have greatly benefited from their ancestral lands and God is blessing them year after year. MDC believes that only white people should be farming cash crops. The treacherous ones are amongst us but I'm glad many of us have opened our eyes and we see them for what they are - PUPPETS WORKING FOR WESTERN INTERESTS.

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