TOBACCO growers are pushing authorities to consider exchange rate difference payment to cover the losses they incurred when they sold their crop at a fixed rate of US$1:$25.
Since the commencement of the selling season in April, farmers were getting 50% of their earnings at a fixed rate of US$1:$25 at a time the parallel market rate is around US$1:$100.
Tobacco Association of Zimbabwe president George Seremwe said the move to have a market-determined exchange rate should see farmers getting paid exchange-rate differences.
“I am afraid most of our small-scale farmers have sold more than 50% of their tobacco.
Tobacco Industry and Marketing Board has projected this season’s output at 225 million kg which is lower than an all-time high of 259 million kg last year.
