Tobacco volumes improve at Lilongwe Auction Floors
Tobacco volumes have reportedly improved at Lilongwe Auction Floors, with the auction side of the sales laid 902 bales while the contract side with 5,577 as of April 22, 2022.
TC Public Relations Officer, Telephorus Chigwenembe, said Friday that the market recorded the highest number of bales laid for sale since the start of the marketing season on March 31.
As expected, Chigwenembe said, the marketing season kicked off with low volumes, with less than 3,000 bales per trading day until today.
“In the four weeks of opening the marketing season, low volumes were expected as the selling was started earlier than in previous years. A lot of growers were still preparing their leaf,” he said.
Chigwenembe added that the highest valued leaf on the auction side today (burley) fetched $2.40/kg while the least valued went at $1.30/kg.
He expressed optimism that the prices will get better as tobacco of better quality is yet to be brought to the floors.
Chigwenembe however said in the first few weeks of trading, it is mostly the lower leaf, which is of low quality, being brought to the floors.
Meanwhile, Chinkhoma and Mzuzu Floors are set for opening on April 27 and May 9, respectively.
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