The 2025 tobacco marketing season kicks off on March 5, with Auction tobacco sales starting on the day while contract tobacco sales commence the next day, March 6.
Farmers will be paid their dues in both the United States Dollar and Zimbabwe Gold currency in line with the Reserve Bank of Zimbabwe (RBZ) directive. The Reserve Bank of Zimbabwe in its 2025 monetary policy statement reviewed the foreign currency retention level for exporters from 75% to 70%. This implies that the effective surrender portion of export proceeds has been increased to 30% from 25%.
The payment in foreign currency will help farmers cover their costs and also make significant profits from their sales.
The payment timelines have been set at 48 hours as measures have been put in place to ensure farmers are paid on time.
The pre-booking system has been retained to avoid unnecessary queues and delays at the floors. In a welcome development Contract floors have decentralized their services to various tobacco growing areas in order to reduce transport costs for the farmers.
A clarion call for farmers and merchants to desist from side marketing continues to be made. Those found wanting risk facing the wrath of the law.
Zimbabwe’s tobacco harvest for the 2024-2025 season is expected to be 280 million kilograms. This is a significant increase from the 235 million kilograms expected in 2023.
