Abstract: This study is based on a valuation technique which was applied to Imbrasia belinacommonly known as (mopane worms) found in the South East Lowveld of Zimbabwe between December, 2012 and March, 2013. The income value/flow and wealth/stock method was used for the study. Data on tenure regime where the Imbrasia belina were harvested, harvester type (harvester or buyer), age of buyer (years), selling price at local market (R kg^-1), value of mopane worms at the local market (calculated using the formula V = PXQ) where V = Value (Rands), P = Price (R kg^-1) and Q = Quantity of mopane worms harvested (kg)), export selling price (R kg^-1), export value of mopane worms (given by the formula, V₁ = P₁XQ₁, where V₁ = Export value of mopane worms (Rands), P₁ = Price (R kg^-1), Q₁ = Quantity of mopane worms harvested (kg)), quantities of mopane worms harvested (kg), quantities of mopane worms bought (kg), quantities of mopane worms exported (kg), quantities of mopane worms consumed at local market (kg), quantities of mopane worms used for personal consumption (kg) and quantities of mopane worms bartered (kg). The data collected in the study area were imputed into the model: V = Σ^N (P_ijQ_ij) (where, V = Net total discounted value of the (Non Timber Forest Product) NTFP’s from a hectare of forest, P_ij = Price of the jth NTFP’s in the ith period, Q_ij = The quantity or flow of the NTFP in the ith period, N = Number of NTFP’s species) to calculate the local and export values of mopane worms. The existence of the South African export market for mopane worms was significant in (Gonarezhou compared to Chikombdzi and Gonakudzingwa small scale farms compared to Chikombedzi communal, p = 0.000). The average local market price for mopane worms was $7.61 kg^-1 whilst that for export market was $207.22 kg^-1. The implications of these values is their influence to national governments in determining the level of management and resources that should be allocated to forestry departments towards conservation of non timber forest products like mopane worms.