Malawi's Burley Prices Remain Low

Source from:  Tobacco Reporter 05/11/2009

Burley tobacco in Malawi is selling at prices 39 per cent below the minimum set by the government, according to a Bloomberg report quoting the Tobacco Association of Malawi. Burley is said to have fetched an average price of $1.31 per kg last week, considerably less than the government minimum of $2.15 per kg. Poor quality offerings at the start of sales of what is expected to be a big crop were probably at least partly responsible for the poor early prices, which were as low as $1.22 per kg. But, now, six weeks into the sales and with 30 million kg sold, the market should start better to reflect what dealers and manufacturers are prepared to pay. Enditem