Saturday, January 23, 2021
  • About Us
  • ImagiNATION
  • Adverts
  • Rate Card
  • Contact Us
The Nation Online
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
No Result
View All Result
Home Business Business News

Tobacco revenue hits K17.7bn

by Johnny Kasalika
23/04/2013
in Business News
2 min read
0
Share on FacebookShare on TwitterShare on WhatsAppShare on LinkedinLinkedinShare via Email

Malawi’s tobacco revenue has by the end of last week hit a total of $42.11million (K17.7 billion), a signal that this year’s marketing season will be better than the previous one.

Official statistics provided by Auction Holdings Limited (AHL) indicate that the local chief forex earner raked in a total of about $14.46 million in the sixth week while average price moved up by 13 percent to $1.86 per kilogramme from $1.64 per kg in the previous week.

RelatedHeadlines

Malawi trade balance to face continued pressure—firm

Bank charges Scaring consumers

Firm outlines 3 economic risks

So far, as of Friday last week, a total of 26.62 million kilogrammes of tobacco were sold comprising 25.64 million kilogrammes of burley and 0.972 million kilogrammes of flue cured tobacco.

According to AHL, the six weeks total weight sold of 26.62 million kilogrammes is about 200 percent above last year’s volume of 8.8 million kg of tobacco sold in the same period.

Earlier, Tobacco Control Commission (TCC) spokesperson Juliana Chidumu said TCC is excited with the market performance so far and expressed hope that the trend will continue for the rest of the marketing season.

The Joyce Banda administration this year expects to rake in total revenue of over $300 million in tobacco.

Last year, both the volume and revenue from the leaf tumbled miserably to 79.8 million kilogrammes and $177 million from a volume of 236 million kilogrammes and $292 million realised in the previous year, respectively.

percent of the entire population.

However, a notable expert, Henry Kachaje, was recently quoted in the media arguing that the tobacco revenue is not enough to stabilise the free falling kwacha against the dollar.

The latest RBM’s daily financial market statistics indicate that official gross reserves as of April 12 plummeted to $168 million (0.88month import cover) from $178 million (0.95month import cover). Private sector foreign exchange reserves stood still at $242 million.

Previous Post

Carlsberg employees down tools

Next Post

Investors eyeing Globe’s Kanyika project

Related Posts

Business News

Malawi trade balance to face continued pressure—firm

January 23, 2021
Some Malawians are still using cash to run away from bank charges
Business News

Bank charges Scaring consumers

January 23, 2021
economy | The Nation Online
Business News

Firm outlines 3 economic risks

January 22, 2021
Next Post
mkango mine | The Nation Online

Investors eyeing Globe’s Kanyika project

Trending Stories

  • Not yet given retirement benefits: Mutharika

    Tonse faulted on former presidents’ benefits

    0 shares
    Share 0 Tweet 0
  • FAM ex-co approves women’s national league

    0 shares
    Share 0 Tweet 0
  • Covid-19 initiative raises K18.3m in 2 days

    0 shares
    Share 0 Tweet 0
  • Legendary Patani Mwase remembered

    0 shares
    Share 0 Tweet 0
  • India’s vaccine drive

    0 shares
    Share 0 Tweet 0

Opinions and Columns

Bottom Up

Thanks Team Onjezani Kenani; our turn now

January 23, 2021
My Thought

Cloud hangs on Mtambo’s head

January 23, 2021
Off the Shelf

Goodbye Trump, you were a joke

January 23, 2021
Back Bencher

Chakwera’s ‘politics’ rant was in bad taste

January 23, 2021
  • Values
  • Our Philosophy
  • Editorial policy
  • Advertising Policy
  • Code of Conduct
  • Plagiarism disclaimer
  • Disclaimer
  • Privacy Policy
  • Terms of use

© 2021 Nation Publications Limited. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation

© 2020 Nation Publications Limited. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.