• April 18, 2024

Malawi Regulator Satisfied With Prices

 Malawi Regulator Satisfied With Prices
Photo: Taco Tuinstra

Malawi’s Tobacco Commission (TC) is satisfied with the prices that buyers offered in the 2023 tobacco marketing season, reports Malawi24. The regulator hopes the prices will motivate farmers to grow more tobacco next season

“This year’s trade demand was at 170 million kilograms and we have supplied 120 million, which means there is a great market opportunity at our disposal,” TC Board Chair Godfrey Chapola was quoted as saying. “One of our strategic goals for the next five years is to raise our annual production to 200 million kilograms.”

The TC will also be pushing to increase scale and irrigation in tobacco farming over the next five years.

Chapola said proposed tobacco legislation currently being considered in Parliament would create a more conducive environment for all players and ensure that tobacco remains a strategic crop for Malawi.

During the 2023 tobacco marketing season, Malawi earned $282.62 million after selling more than 120 million kg of tobacco at an average price of $2.35.