By Taonga Sabola:
Malawi’s tea production fell by 0.2 million kilogrammes (kg) in July to hit 1.3 million as compared to the 1.5 million kg recorded during the same time last year, figures from the Reserve Bank of Malawi (RBM) have shown.
RBM said in its July 2018 economic report that tea sales through the Limbe auction market amounted to 0.5 million kg similar to 0.5 million kg auctioned in the same period in 2017.
In terms of pricing, RBM says tea prices averaged $1.87 per kg in July 2018 compared to $1.85 per kg fetched in a corresponding month in 2017.
“Due to comparatively higher prices in the month under review, total realisations from the tea sales through the auction market stood at $1million during the review month, higher than $0.9 million realised in July 2017,” RBM says.
The central bank further says sugar production amounted to 35.5 million kg in July 2018, a slight increase from 34.9 million kg registered in the corresponding period in 2017.
The volume of domestic sales amounted to 13.8 million kg valued at K10.5 billion.
“Meanwhile, 5.9 million kg of sugar was exported in the review month for K2.2 billion. Most sugar was exported to European Union markets as well as markets in the region,” RBM says.
Sugar and tea are Malawi’s second and third largest export crop, respectively after tobacco.