AHL Group figures show Malawi has raised MWK 144 billion (USD 176 million) from tobacco sales at auctions in the last 14 weeks, reports The Nation.

During the same period last year, the country had collected KWK 115 billion (USD 140.6 million). Meanwhile, the rejection rate has improved to 47 per cent from 53 per cent the previous week, a development that Tobacco Commission (TC) chef executive Joseph Chidanti Malungas said is a sign that all tobacco is being cleared from the sales floors. “When the rejection rate was high, the media had an impression that this meant that the tobacco will not be sold. However, that is not the case because rejection is just a matter of discussing on the grade that was put on the bale by TC and sooner or later it gets sold,” he was quoted as saying.
In an interview yesterday, Tama Farmers Trust president Abel Kalima Banda said prices had not been good despite the improvement at rejection. According to AHL Group, Malawi sold 108 million kg of tobacco at an average price of USD 1.64/kg since the market opened in April, compared to 92.7 million kg at USD 1.52/kg in the same period last year. Meanwhile, Limbe auction halls closed on 23 July, while Lilongwe and Mzuzu auction halls will close in August, the report said.