Tobacco sales 2026: higher volume, lower value than 2025
Zimbabwe’s tobacco marketing season had reached Day 127 as at 22 September 2026, with the latest figures showing a larger crop marketed than at the same point in 2025, but considerably lower returns.
The figures also highlight an important difference between the country’s two principal selling channels – auction and contract tobacco – with performance varying significantly between the two.
Auction sales
At the auction floors, 31.69 million kg had been sold by Day 127 in 2026, generating USD 60.08 million in sales.
The average auction price was USD 1.90/kg, with the highest price reaching USD 4.99/kg. A total of 439,403 bales had been laid, of which 395,669 were sold, while 43,734 bales were rejected. The rejection rate at auction stood at 9.95%.
The auction figures demonstrate the considerable difference between the auction and contract channels, particularly in average price and rejection rates.
Contract sales
Contract tobacco accounted for the bulk of the crop marketed.
By Day 127, 327.40 million kg had been sold under contract, generating USD 834.32 million.
The average contract price was USD 2.55/kg, substantially above the auction average of USD 1.90/kg. The highest contract price was USD 5.75/kg, while the lowest was USD 0.10/kg.
Contract growers had laid 4.044 million bales, with 3.892 million bales sold and 151,928 rejected. The rejection rate was 3.76%, considerably lower than the auction rejection rate.
Combined 2026 position versus 2025
Across both selling channels, 359.10 million kg had been sold in the 2026 season, compared with 354.86 million kg in 2025 – an increase of 1.19%.
Despite the slightly higher volume, the value generated fell sharply. Total sales stood at USD 894.40 million, compared with USD 1.178 billion in 2025, a decline of 24%.
The overall average price fell from USD 3.32/kg in 2025 to USD 2.49/kg in 2026, representing a 25% decline.
Bale numbers tell a similar story. A total of 4.484 million bales had been laid in 2026, compared with 4.464 million in 2025. However, bales sold declined by 1%, from 4.329 million to 4.288 million, while rejected bales increased by 45%, from 134,909 to 195,662.
The overall rejection rate increased from 3.02% in 2025 to 4.36% in 2026. The average bale weight also increased from 82 kg to 84 kg.
A season of higher production but weaker returns
The Day 127 figures therefore present a mixed picture for Zimbabwe’s tobacco industry.
More tobacco has been marketed than in the previous season, but the additional volume has come against a much weaker price environment. The difference between the two selling channels is also significant, with contract tobacco recording a higher average price and substantially lower rejection rate than tobacco sold through the auction system.
For growers and the industry as a whole, the figures underline the challenge of matching production volumes with market demand and maintaining quality in order to protect returns.