The 2024 tobacco marketing season has seen a significant development as the country has earned US$37 million US Dollars from the 14 million kilogrammes sold after two weeks of trading.
This has doubled the earnings that the country has generated during the same period last year.
Spokesperson for Tobacco commission Telephorus Chigwenembe said the country has recorded an average price of US$2.64, a 33 percent increase from last year’s average price around the same time of US$1.99 per kg.
He told ProjectM that by Friday April 26, farmers had sold 13.9 million kilogrammes up from 8.1 million kilogrammes sold in the same period last year.
Chigwenembe said in the 2023 marketing season, which opened on 12th April and closed on 4th August the same year , the volume sold was 120 million kilogrammes and the average price at the end of the season was US$2.35 per kg
He further mentions that the trade demand for the 2024 marketing season is 190 Million kilogrammes while the projected production is at 140 Million kilograms
According to the tobacco industry regulator, this year’s marketing season has caught the attention of 10 buying companies which include Limbe Leaf Tobacco Company, Alliance One Tobacco Company, JTI, Premium Tobacco Malawi Ltd, African Tobacco Services, Associated Central African Ltd, Watergen, Voedsel, Hail and Cotton including Nyasa Manufacturing company.
President Lazarus Chakwera opened this year’s tobacco marketing season at Chinkhoma Auction Floors in Kasungu on April 16, 2024.
