Chakwera opens tobacco market as hopes for forex availability rises

President Dr Lazarus Chakwera is on Wednesday set to preside over the official opening of this year’s tobacco marketing season at Lilongwe Auction Floors where he will unveil minimum prices for the leaf.

This comes at a time when the country is facing acute forex shortages and the opening of the tobacco market brings hope of availability of the forex.

Secretary to the President and Cabinet, Ms Colleen Zamba says in a statement the opening ceremony will start at 9 o’clock in the morning.

Tobacco Commission says about 20,000 bales have been presented to the market, with 2600 bales expected to be sold tomorrow.

Production of the country’s main forex earner is estimated to jump to 126 million kilograms from 85 million kilograms the country produced last year, representing over 50 percent increase.

Malawian tobacco farmers are expecting good prices since  ten buyers are competing for the gold leaf this year.

Chinkhoma, Limbe and Mzuzu Auction Floors will be opened on 13th, 17th April and 2nd May respectively.