Tobacco back to its golden days? Malawi fetches $182million with only seven weeks of selling
Tobacco farmers are smiling all the way to the bank seven weeks into the business as the country, so far, has already fetched $182million.
Currently, the country has sold 64.7 million kgs of Tobacco.
Good prices offered in this year’s tobacco market season has since triggered people’s interest to venture into the production of the leaf in the coming season.
According to Tobacco Commission, (TC) spokesperson, Telephorus Chingwenembe attributes this to better pricing as the leaf is going at an average price of $2.81, a 26% percent increase from the same period last selling season.
This also represents a 10% increase from that in week 6 which is $2.78 per kg.
“We are happy to note that the progress of the selling season underway has triggered people’s interest to grow the crop. This aligns very well with our goal to increase our annual production to 200 million kgs by 2028 because in the recent years, we have been falling to meet the trade demand. The demand for our tobacco is higher than what we are currently producing,” Chingwenembe said.
He also added that, increase in the average price per kg is due to high quality leaf being brought to the floors.
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