Tobacco markets open next month
This year’s tobacco selling season is expected to start in April, industry regulator, the Tobacco Control Commission (TCC) has confirmed.
TCC Chief Executive Officer, Kaisi Sadala, said on Sunday that the market may open during the second week of April.
Tobacco remains the country’s top foreign exchange earner followed by tea and sugar.
The start of the tobacco selling season in Malawi has traditionally been big business as, apart from bringing the much-needed foreign exchange into the country, it also helps to spur growth of other businesses, such as transport and food.
“We will announce the exact dates in the near future but definitely it is in April,” Sadala said.
According to first round of crop estimates figures, the country is this year expected to produce 149 million kilogrammes of the green gold, which is 12.8 percent below what international buyers are demanding.
The fall in production, triggered by pockets of drought in some tobacco producing districts has left analysts speculating that growers could have better returns once the markets open.
