Tobacco proceeds hit K45 billion

Malawi Tobacco

Malawi has made US$62 million (about K45 billion) from tobacco after five weeks of sales, according to AHL Group.

An infographic released by AHL yesterday shows that K45 billion has been made from the sale of 39.8 million kilogrammes of the leaf sold at an average price of US$1.56/Kg.

Malawi Tobacco
Tobacco fetch Malawi K45 billion(File)

The figures are for the five weeks starting from the day the market opened to May 11.

During the five weeks, 36.2 million kilogrammes of burley were sold at an average price of US$1.47/kg. In addition, flue cured tobacco weighing 3.4 million kilogrammes was sold at an average price of US$2.49/Kg while 187,587 kilogrammes of dark fired tobacco were sold at US$1.85/kg.

“More volume of tobacco was sold in week 5 compared to week 4. 10.7 million kilogrammes of all types of tobacco was sold in week 5 compared to 8.1 kilogrammes sold in week 4,” AHL said in the infographic.

AHL also noted that there was an increased demand of thin tobacco styles for all tobacco types leading to an increase in average price.

Tobacco is being sold at Lilongwe Auction Floors, Limbe Auction Floors in Blantyre, Chinkhoma Auction Floors in Kasungu and Mzuzu Auction Floors opened on Monday.

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