TOBACCO NETS MK32 BILLION

0
Major Malawi forex earner

TOBACCO sales have earned Malawia bout K32.1 billion (US$44.3 million) since the opening of 2018 market season last month.

Auction Holding Limited, AHL Group, released a statement on Tuesday in which it however, indicates that this year’s price of the gold leaf is not satisfactory as compared to last year.

The cumulative average price stands at US$1.48 per kilogram this year, while during the same period last year it was at US$1.72 per kilogram.

The country’s total harvest of the leaf this year has dropped.

AHL records show that tobacco 2018 demand is at 171 million kilograms, but the country’s farmers have managed to produce about 149 million kilograms of tobacco.

Tobacco is the major foreign earner of the country’s foreign currency.

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here