Earnings for Malawi''s top FX Generator Tobacco up

Source from:  The Maravi Post 03/26/2013

Earnings from Malawi's main forex generator tobacco are up, reaching US$ 6.8 million, way above the US$2.1 million earned during the same period last year.

Tobacco Control Commission (TCC) Chief Executive Officer Bruce Munthali says the increase in earnings is due to an increase in demand on the global market coupled plus a product of high quality.

"There is a significant increase in both tobacco volume sold and earnings. This mainly is due to the fact that farmers produced good quality tobacco this year," said Munthali told Zodiak radio.

Munthali also hailed buyers for offering competitive prices.

Last year's tobacco didn't fetch good prices, a development which also affected availability of forex in the country. Though the production of the tobacco is being discouraged by world organizations, Malawi depends on it. Enditem