Leafy dried tobacco, stacked in a Zimbabwe auction hall, offers a glimpse of how China’s resilient global demand has spared many suppliers—even as investors flee emerging markets on fears of the Asian giant’s ebbing appetite.
Last year, Zimbabwe auctioned off one-third of its tobacco crop to its biggest customer, China, bringing in about $700 million overall to the cash-starved southern African economy. This month, the government is opening its annual tobacco auctions earlier than usual, anticipating that an even larger…
Here is the original post: China Demand Still Buoys Producers
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