Tobacco rakes in $ 204.1 million
BY WILLIAM KUMWEMBE:
Malawi has so far realised a total of $204.15 million from sales of top export crop, tobacco, figures from regulator, the Tobacco Control Commission (TCC) have shown.
The amount is a 28.48 percent jump when compared to $158.8 million earned during same period last year.
The rise in the earnings is despite a drop in average prices this year, now at $1.73 per kg, which is 11.12 percent shy of the $1.94 per kg that the leaf was fetching during the same time last year.
The country has, however, sold 118,341,315 kg of all types of tobacco this far, compared to 81,867,955 kg traded during same time last year, representing a 28.48 percent jump.
Malawi is projected to have grown 149 million kg of all types of tobacco this year against the 171 million kg buyers were looking for as per international trade requirements.
A visit to the country’s major auction floors last week found that the market was moving smoothly, amid concerns among some farmers over low prices on offer.
A tobacco grower from Mponela in Dowa District, Chapita Kamoto said his earnings would be higher compared to last year due to the rise in the amount of the leaf sold.
He, however, lamented the relative drop in the average prices.
“The prices are still lower than anticipated, despite the fact that we are now bringing to the market top quality leaf,” Kamoto said.
In an interview last week, TCC Chief Executive Officer, Kaisi Sadala, said there is hope that the prices would improve going forward, as farmers have started bringing top quality leaf to the auction floors.
Improvement in the prices could mean a further rise in earnings.
Meanwhile, key stakeholders from the tobacco sector are currently conducting the third and final round crop assessment which would determine the amount of tobacco the country has produce this year.
