Malawi: $50m Turnover from Tobacco Sales

Malawi has so far earned $50 million in foreign exchange, 19 percent higher than last year as the tobacco market enters its seventh week.Last year, tobacco sales recorded $42.1million around the same period.

$50m Turnover from Tobacco Sales

Tobacco Control Commission (TCC) Chief Executive Officer Bruce Munthali said Thursday that unlike last year when only 26.6 million kilogrammes of all types of tobacco had been sold by the sixth week of trading, the quantity is much higher this year at 35.6 million kilogrammes sold through the auction floors.

“We have seen much improvement of tobacco in both sales and volumes at auction floors this year compared to last year,” he said.

Munthali added that relations between growers and buyers during market have improved for the better.

Malawi depends on tobacco leaf as its major foreign exchange earner. Enditem