The Tobacco Commission has disclosed that Malawi is expected to realise more forex from tobacco sales as prices continue to go up six weeks into the marketing season.
Since the start of the selling season six weeks ago, the country has sold 51 million kilogrammes of tobacco, which is valued at US$143 million, an increase from last year’s 38 million kilogrammes, which were valued at US$85 million dollars.
According to the commission, the prices of the green gold have gone up to an average of US$ 2 dollars 78 cents from US$ 2dollars 67 cents in the first week of sales.
Speaking with ProjectM in an interview, spokesperson Telephorus Chigwenembe, said the commission is confident that 2024 will be one of the best tobacco selling seasons in recent times.
“This far, we have a good basis to be confident that 2024 will be one of the best tobacco selling seasons in recent times. We have seen the average price per kg going up every week. By week 5, it was $2.74; by week 4, it was $2.70; by week 3, it was $2.67; by week 2, it was $2.64 and in week 1, the average price per kg was $2.57. This means increased earnings for tobacco farmers and improved”, he explained.
The 2024 Tobacco Marketing Season officially opened last month at Chinkhoma Floors in Kasungu District with the price of the leaf surpassing $3 per kilogramme (kg), to the delight of farmers and other stakeholders.
Meanwhile, the country’s expected sale is 140 million kilogrammes, an increase from 120 million last year.
