• June 15, 2024

Tobacco Earnings Jump

 Tobacco Earnings Jump
Photo: Taco Tuinstra

Malawi earned $81.2 million from tobacco sales in the four weeks that ended May 10—83.3 percent more than in the same period last year, reports Xinhua.

The Tobacco Commission estimates that tobacco growers will bring 140 million kg to market this year, representing a 17 percent increase over last year’s production of around 125 million kilograms. The regulator said that 30 million kilograms have been sold since the markets opened in April, a 47.5 percent increase over the same period last year.

“The seasonal average price has also increased by 28 percent to an average of 2.7 dollars per kilogram, compared to 2.11 dollars per kilogram last year,” the commission said.

Tobacco exports accounted for $389 million dollars of Malawi’s $1.1 billion exports in 2023, according to the country’s National Statistics Office.