Limbe Auction Floors Opens

The highest price for the leaf on the first day was pegged at US$2.50 The highest price for the leaf on the first day was pegged at US$2.50 - pic by Happy Njalam'mano

AHL Group has opened the Limbe Auction Floors to mark the beginning of this year’s tobacco selling season for the Floors.

Minister of agriculture, Francis Kasaila, says he is satisfied with business on the first day.

“The quality has been very good. It is encouraging that farmers are getting the message to do better in the sector. We have also seen that the prices are good especially for the contract market.

“We have seen a higher price of US$2.50 for contract market which is quite remarkable. Buyers are also adhering to minimum price of 90 Cents which is also very good.

“I am hoping that majority of the farmers will get over that for them to benefit from their work,” he said.

The highest price for the leaf on the auction market was pegged at US$1.30 and lowest price at both markets, contract and auction, was pegged at 90 Cents.

Chief Executive Officer of the National Smallholders Farmers Association of Malawi, Betty Chinyamunyamu, while commending buyers for good prices, bemoaned high rejection rate on the first day.

Her Tobacco Commission counterpart, Kaisi Sadala, said in response that “the Commission and buyers need to talk on issues of classification.

“In some cases, the buyers were not happy with our classification but we will look into it. What is important is that all the tobacco, at the end of the day, will be bought.”

Read 1277 times
Login to post comments
Go to top
JSN Time 2 is designed by | powered by JSN Sun Framework