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*Tobacco Sales Down 85%*

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Tobacco sales in the first 10 days of trading at the auction floors have declined sharply by 85%. The Tobacco Industry and Marketing Board (TIMB) statistics show that $2.8 million worth of tobacco had been sold in the first days. Last year $30.2 million worth of tobacco had been sold in the same period.

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Only 1.6 million Kgs were delivered, compared to 10.9 million Kgs in the same period last year.
Average price of $1,73 per kg compared to last year’s average of $2,77 per kg

A tobacco company official spoke to the NewsDay:

> Farmers are not in a hurry to sell. There is also inconsistent policy regarding access to and determination of 50% USD entitlement. Most contractors are yet to start receiving their tobacco. Many were waiting for the circular.

Last week, government-controlled media claimed that sales were now up after an intervention by the finance minister Mthuli Ncube.

*Related:*

*Tobacco Sales Increase Slightly After Removal Of 2% Tax*

*Warning Shots Fired On Errant Tobacco Merchants And Middlemen*

*Mthuli, Shiri Called By Parliament To Explain Furore Over Tobacco Payments*

More: NewsDay

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