Malawi tobacco average prices, volume and revenue dropped in the week ending July 5, indicates official data provided by the Auction Holdings Limited (AHL).
Data provided by AHL show that in week 17 tobacco prices dropped by $0.06 to $2.43 per kg compared to the previous week. The AHL data further indicates that in the week under review, dark fired dropped the highest by $0.18 to $2.11 per kg, flue cured dropped by $0.02 to $3.33, while burley dropped by $0.01 to $2.28 per kg.
However, AHL data indicates that in week 16, the country sold 9.2 million kg raking in about $22.97 million at an average price of $2.49 per kg.
In week 17, a total of 8.45 million kg of tobacco were sold raking in a total of $20.52 million. Specifically, 6.98 million kg of burley were sold, fetching about $15.90 million, 12.39 million kg of flue cured raked in $4.12 million and 0.23 million kg of dark fired fetched $0.49 million.
“Burley and flue cured tobacco average prices marginally dropped while dark fired had the largest negative swing in week 17. The downward trend on volumes sold experienced since week 15 continued in the preceding week. Volumes sold to date surpass volumes sold in the entire 2012 season by 65 percent. Cumulative average price which stands at $2.11 per kg continue to rise. Same time last season cumulative average price was at $2.22 per kg,” comments AHL.
Up to week 17, Malawi has sold 132.07 million kg raking in about $278.33 million—$21.67 million short of this year $300 million target.
So far, the country has sold 113.57 million kg of burley which has fetched a total of $223.65 million. Malawi has also sold 15.64 million kg of flue cured, raking in a total of $48.48 million, 2.87 million of dark fired raking in a total of $6.21 million.
To date, total cumulative price stood at $2.11 per kg, flue cured has the highest average at $3.10. Burley had the lowest cumulative average price at $1.97 while dark fired averaged $2.16 per kg.