The 2018 tobacco selling season roars into life on Wednesday morning, amid anticipation from various economic segments that proceeds from sales will boost trade and commerce.
All is now set for the commencement of the selling season, with a foreign direct investment of around $500 million worth of offshore funding expected to be injected by foreign buyers.
Workers at tobacco auction floors were putting final touches, while thousands of bales have already been delivered for the first sale.
Downstream industries are also expecting to reap benefits as traders were preparing to sell their various wares outside the floors.
Meanwhile, a tobacco investment and promotion conference aimed at promoting value addition of tobacco will be held from April 5 to the 6th.
Globcome Director, Mr Pio Gotore said the golden leaf can earn much than $1 billion currently being generated, hence creation of a platform to map tobacco industry development strategies.
Globally, Zimbabwe is the fourth largest producer of flue cured tobacco with China being the main export destination.
Tobacco is also the agriculture sector’s largest foreign currency earner.