Tobacco fetches K32.1 billion

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Malawi has made US$44.3 million (about K32.1 billion) from the sale of tobacco so far.

An infographic released by AHL Group on Tuesday shows that from the opening day of the market to 3 May, US$44.3 million has been realised from 29.1 million kilogrammes of the crop.

Malawi Tobacco

Malawi has made K32.1 billion from Tobacco sales. (File)

The leaf has been sold at an average price of US$1.48/Kg.

During the first four weeks, 26.9 million kilogrammes of burley were sold at an average price of US$1.43/kg. In addition, flue cured tobacco weighing 2.2 million kilogrammes was sold at an average price of US$2.61/Kg while 43,404 kilogrammes of dark fired tobacco were sold at US$1.88/kg.

“Cumulative average price of all types of tobacco is lower in 2018 than 2017. The cumulative average price stands at US$1.48/Kg this year while during the same period last year it was at US$1.72/Kg,” AHL says.

Over the past four weeks, tobacco was being sold at Lilongwe Auction Floors, Limbe Auction Floors in Blantyre and Chinkhoma Auction Floors in Kasungu. The Mzuzu Auction Floors opened on May 30.

About 149 million kilogrammes of tobacco are expected to be sold at auction floors across the country this year but there is a demand of 171 million kilogrammes.

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