The sales committee of Malawi’s tobacco industry has proposed an early closure for the 2024 tobacco selling season, set at the start of August.
According to Telephorus Chigwenembe, the Public Relations Officer of the Tobacco Commission, the committee, which includes various industry stakeholders, has decided to close Chinkhoma floors on July 12, Lilongwe and Limbe on July 19, and Mzuzu floors on August 2. Mzuzu Selling Floors will close last due to the later start of trading in the northern region.
“The selling season, which began on April 15, will conclude after 16 weeks of trading,” Chigwenembe explained.
The Tobacco Commission has hailed the 2024 selling season as one of the best in recent years, noting high prices and smooth trading. As of Thursday, July 11, the average selling price was $2.95 per kilogram for 123.4 million kilograms of tobacco, valued at $367.1 million.
Malawi is one of the world’s most tobacco-reliant countries, with tobacco accounting for up to 70% of its foreign exchange earnings.
The country grows three types of tobacco: Flue Cured Virginia, Burley, and Fired Cured. Burley tobacco, known for its high nicotine content and superior flavor, constitutes 6.6% of the world’s tobacco exports and over 50% of Malawi’s foreign earnings.
Malawian tobacco is used in nearly every cigarette blend in industrialized nations, including popular brands like Camel and Marlboro.
