Malawi has accumulated $49.6 million (about K36 billion) from 27.5 million kilogrammes (kg) of tobacco six weeks after the tobacco market was opened, according to figures from AHL Group.
This represents 22 percent of this year’s projected crop size of 124 million kg which was being sold at an average price of $1.80 (about K1 314).
During the same period last year, 28.3 million kg of tobacco was sold.
“In the week under review, there was a notable gain on burley and flue cured weekly average prices as shown by the positive variances while dark fired prices decreased due to dominance of low value bottom leaf on the market,” reads a weekly tobacco market commentary from AHL Group.
According to the report, burley was being sold at an average price of $1.70 (about K1 200), flue cured at $2.71 (about K1 900) while dark fired tobacco was being sold at an average price of $1.88 (about K1 400).
Meanwhile, market regulator Tobacco Control Commission (TCC) has asked all tobacco growers to properly grade, condition and present their tobacco for sale to attract better prices and make the market more competitive on the world map.
This follows observation by TCC on presentation of graded tobacco for sale with intolerable mixes on the selling floors, over conditioned and high prevalence of plastics and stones, among others.
“The commission is further informing the public that it is illegal to do cross border tobacco trade and to buy or sale tobacco at any unauthorised market and, therefore, any such malpractice should immediately be reported to our offices in Lilongwe, Mzuzu, Chinkhoma in Kasungu and Limbe for appropriate legal action,” reads a TCC media statement published on Monday.