• June 16, 2024

Minister ‘thrilled’ with prices

 Minister ‘thrilled’ with prices
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Malawi’s Deputy Agriculture Minister Aggrey Massi expressed satisfaction with tobacco prices during a tour of the Lilongwe Auction Floors earlier this week, according to a report by Malawi24.com. Leaf was fetching prices as high as $2.60 on the day of his visit.

The minister started the tour with a visit to tobacco selling under auction before proceeding to check how the leaf was faring under contract buying.

Speaking at the JTI floor space, Massi said he was encouraged by the price tobacco was selling this year and hoped buyers will continue rewarding growers with better prices as the trend has been since the market opened in April.

“I am impressed with both the quality of tobacco on display and the price you are giving to growers. This is good, and please continue looking after these growers,” said Massi.

JTI Leaf Malawi Corporate Affairs and Communication Director Harold Msusa said his company believes in rewarding quality and that was evidenced by the good prices the leaf was fetching.

“The quality of the leaf growers have produced this year is good,” said Msusa. “In addition, we explained to the minister that we have recorded significant reduction in cases of non-tobacco related materials and this is reflected in this year’s good prices,” said Msusa.

As of June 23, Malawi had earned $144.5 million from 74.8 million kg of tobacco selling at an average price of $1.93 per kilogram.

During the same period last year, Malawi sold 69.5 million kg at an average price of $1.51, earning the country $104.6 million.