Leaf tobacco prices down in Malawi

Malawi earned MWK15 billion (about US$38 million) from tobacco sales during the first five weeks of the 2014 marketing season, according to a Star Africa story quoting figures issued by the Tobacco Control Commission (TCC) on Tuesday.

TCC chief executive Bruce Munthali said about 28 million kg of tobacco had been sold so far over the auction floors, an increase of about 49 percent on sales during the same period of last year, 18.8 million kg.

Munthali said the increase in earnings had been realized on the back of firm prices offered by buyers.

“We are happy with the way our tobacco is being sold at the market, and we are hoping that as the market goes on the prices will increase …,” he said.

It would seem, however, that prices so far have been down on those of last year, because while volume sales increased by 49 percent, according to the TCC, earnings increased by only 38 percent.