2019 Tobacco Marketing Season Opens Next Week

Reserve Bank of Zimbabwe (RBZ) governor John Mangudya said Zimbabwe’s 2019 tobacco marketing season will open on March 20 with growers retaining 50 percent of their net export proceeds.

Mangudya said this when he appeared before the parliamentary committee on public accounts on Monday. He said the RBZ and farmers will hold further discussions on the period that farmers should keep their retained forex earnings after the central bank last month gave the exporters only 30 days after which the unused money will be put on the market. He said the tobacco farmers had asked for the retention period to be extended to between 90 and 180 days.

More: Xinhua