THE Tobacco Industry and Marketing Board (TIMB) has suspended tobacco buyer Country-Agro International (Pvt) Ltd over alleged pricing irregularities, in a move that has exposed deep divisions within the tobacco sector and raised fresh concerns over market fairness and transparency.
The suspension follows concerns over pricing patterns and market behaviour linked to Country-Agro International (Pvt) Ltd, which the regulator says may be undermining fair price discovery, distorting competition and affecting growers’ viability.
The 2026 marketing season opened with high volumes but weaker prices than last year, averaging about US$2,68/kg by mid-March, down from US$3,51/kg in 2025. Early auction prices ranged from as low as US$0,35/kg to US$1,50/kg before stabilising as better-quality leaf entered the market. The first bale fetched US$4,60/kg.
TIMB attributed the early price slump to oversupply and limited initial buyer participation. However, farmers are also facing pressure from global oversupply and a 70% US dollar and 30% ZiG payment structure.
Sources revealed that Agriculture, Mechanisation and Water Resources Development minister Anxious Masuka yesterday summoned stakeholders in the tobacco sector over the pricing issue.
But in a move that left the industry divided, TIMB chief executive Emmanuel Matsvaire suspended Country-Agro, saying it was a precautionary measure aimed at maintaining the stability and credibility of Zimbabwe's tobacco marketing system.
“In the public interest, and to safeguard the stability and credibility of the tobacco marketing system, TIMB has resolved to impose a temporary suspension of Country-Agro (PVT) Ltd from all tobacco buying activities with immediate effect, pending further review,” Matsvaire said in a letter to Country-Agro director Brian Vere yesterday.
“This measure is precautionary and administrative in nature, and is intended to allow for a thorough assessment of the issues identified.
- Tobacco prices firm on strong global demand
- Tobacco prices firm on strong global demand
- Tobacco in forecast busting show
- Tobacco in forecast busting show
Keep Reading
“The Tobacco Industry and Marketing Board, in its statutory mandate to regulate and ensure the orderly, fair, and transparent marketing of tobacco in Zimbabwe, has been closely monitoring pricing conduct and market behaviour across all licensed buyers.”
He said the regulator had observed pricing patterns and market signals that raised concern, including possible distortion of fair pricing mechanisms, reduced competition, and harm to growers’ livelihoods.
Country-Agro has been given five days to respond with written representations and supporting evidence, failing which TIMB will proceed based on available information.
Reactions from farmers were mixed.
Tobacco Farmers Union president Believe Tevera said the move was unprecedented and could worsen market conditions.
“It's the first of its kind,” he said, adding that the suspension will not help farmers. “It will worsen it [the situation] because they are buying a significant amount [of tobacco] on auction.”
However, Zimbabwe Tobacco Growers Association president George Seremwe welcomed the suspension, saying it could curb malpractice.
“We have surrogate companies that are oppressing farmers by buying at very low prices and reselling to main contractors,” he said. “We applaud TIMB. We want a sustainable and fair pricing system.”
Seremwe said the suspension would send a strong signal to other companies allegedly underpaying farmers.
