• June 15, 2024

Malawi Prices Up a Quarter Over Last Year

 Malawi Prices Up a Quarter Over Last Year
Photo: Taco Tuinstra

Malawi tobacco growers have sold 64.7 million kg of tobacco for $182 million in the seven weeks since the marketing season opened, reports The Nyasa Times.

Tobacco Commission spokesperson Telephorus Chingwenembe said the average price, at $2.81 per kg, was 26 percent above that fetched during the same period during last year’s selling season.

“We are happy to note that the progress of the selling season underway has triggered people’s interest to grow the crop,” he was quoted as saying. “This aligns very well with our goal to increase our annual production to 200 million kg by 2028 because in the recent years, we have been failing to meet the trade demand. The demand is higher than what we are currently producing.”

Chingwenembe also praised the high quality of leaf being brought to the sales floors.