Revenue from tobacco, Malawi’s main export crop, hit USD 110.2 million by end of week 11 of trading, reports The Daily Times.

At the same time last year, the country had earned USD 125.1 million from the sale. According to the report, 72.7 million kgs of all types of tobacco were sold during the period under review this year at an average price of USD 1.51 per kg. However, this is about 12.5 million kgs less than the 85.2 million kgs traded during the similar period last year. The average price for the tobacco leaf at the end of week 11 of the sale was USD 1.40, compared to USD 1.47 that it fetched in the same time last season.
The Tobacco Association of Malawi (Tama) said farmers are not satisfied with price trends on the market. “The price trend is not as farmers would have wished especially considering the few kilogrammes sold. It seems auction prices are low and rejection rate is very high,” Tama’s Chief Executive Officer, Nixon Lita, was quoted as saying.
This season tobacco output is estimated at 154.6 million kgs which is 6.6 per cent lower than last year’s 165.6 million kgs, the report said.