Buyers Defying Minimum Prices in Malawi

Source from:  Tobacco Reporter 04/07/2009

Tobacco buyers at the Lilongwe auction floors have been buying leaf at below the officially recommended prices, according to a report in Malawi's Daily Times. In doing so, the buyers have been apparently ignoring a threat from President Bingu wa Mutharika that he would revoke the licenses of defiant buyers. The report said that, on Wednesday morning, Burley was being sold at prices ranging from US$0.90 to US$2.00 per kg below the minimum price of US$2.15 per kg announced by the President when he officially opened the floor on March 16. Enditem