Zimbabwe $1.25bn plan sees cannabis as biggest cash crop

Zimbabwe $1.25bn plan sees cannabis as biggest cash crop

Economy, Tax
Zimbabwe sees export earnings from cannabis outstripping those of tobacco by almost three times after last year legalising the cultivation of the plant for medicinal use. The government has issued 44 licenses since September when it announced rules for growing cannabis, and sales are forecast to reach $1.25 billion in 2021, Treasury spokesman Clive Mphambela said by phone Monday. Thirty producers “are ready and some were doing test production,” Mphambela said. He declined to comment on stocks of cannabis available for export. Tobacco is the southern African nation’s biggest agricultural export and earned $444 million from the 2020 marketing season that closed in August, according to the Tobacco Industry and Marketing Board. John Robertson, an independent economist based in Harare, said the projections were ambitious. “It’s a massive over-estimate and…
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