Malawi's Tobacco Price Rises 64 Percent at Sale, Nation Says

Source from:  Bloomberg 06/17/2009

Tobacco prices in Malawi, Africa's largest exporter of the Burley variety, rose 64 percent during a sale yesterday, the Nation reported, citing data from the Limbe auction floors. The highest quality leaf fetched $2.95 per kilogram (2.2 pounds) compared with $1.80 during the week ending May 29. This is the first time price has risen above the government-set minimum of $2.15, the Blantyre-based newspaper said. Tobacco accounts for 60 percent of Malawi's foreign exchange earnings. Enditem