Tobacco Earns Malawi $3m in 3 Wks
Malawi has realized over US$3 million (about K500 million) in the first three weeks of tobacco sales this season, Tobacco Control Commission Chief Executive Officer Dr. Bruce Munthali has said.
Dr. Munthali told zodiak online that the money has been realized from about 3 million kilograms sold so far.
“By this time last year we had realized the same 3 million dollars from 5 million kilograms of the leaf, this is impressive” said Dr. Munthali.
Dr. Munthali said the average price in all the markets stands at US$1.08 with US$1.40 for contract sales.
The commission has however expressed worry at the slow deliveries of tobacco to the markets.
As for the opening of Mzuzu auction floors, the TCC boss says they are still waiting for deliveries of the leaf which hasn’t yet started.
“We are still monitoring stocks at Mzuzu and once we get enough quantity we will go ahead to open the market,” he said.
Tobacco contributes 80 per cent to Malawi’s export earnings but this year production dropped because most farmers abandoned the crop owing to poor prices last year. - Zodiak Online
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