• February 22, 2024

Malawi Earns $64 Million From Tobacco

 Malawi Earns $64 Million From Tobacco
Photo: Taco Tuinstra

Malawi has earned $64 million from tobacco sales since the markets opened on May 12, reports the Nyasa Times.

According to AHL Tobacco Sales, which among other enterprises operates the Lilongwe tobacco sales floors, farmers have sold 30.09 million kg of leaf to date at an average price of $2.15 per kilogram.

At the same time last year, Malawi had earned $22.37 million from 11.03 million kg selling at an average price of $2.02 per kilogram.

Malawi has been struggling with a balance of payment crisis, leaving it with insufficient foreign exchange to import many necessities. The crisis has led to shortage of fuel and other items.