Malawi's Prices Lower Than Last Season's

Source from:  Tobacco Reporter 07/08/2009

After 14 weeks of trading this year, the average price paid for Malawi Burley was lower than the average price paid during the same period of last year and lower than the government-imposed minimum of $2.15 per kg, according to a Bloomberg report. Ninety nine point five million kg of tobacco had been sold at an average price of $2.08 per kg during the first 14 weeks of the current sales season, while during the same period of the previous season, 98.7 million kg had been sold at an average price of $2.24 per kg, said the report, quoting Auction Holdings figures. The modest prices are thought to reflect the poorer quality of this season's tobacco, when compared with last season's, and the fact that farmers are believed to have produced a big crop. Enditem