Malawi: Tobacco Earns US$15m

Source from:  The Daily Times  04/10/2013

Tobacco sales at the country's auction floors have earned US$15 million in foreign exchange in four weeks, Tobacco Control Commission (TCC) has said.

The tobacco marketing season started on March 11, 2013 and has now entered week five of trading.

According to TCC , US$15,060,568.96 had been earned in four weeks of sales as compared to US$5,288,091.37 earned same time last year, representing a 185 percent value change.

In terms of volume 11.1 million kilogrammes of tobacco had gone through auction as compared to 4.6 million kilogrammes last year.

Same time last year the average price was US$1.14 per kilogramme while this time around it is US$1.35 per kilogramme.

TCC said the average price changes represent an 18 percent change.

On the other hand, Auction Holdings Limited (AHL) in its weekly trading commentary said the average burley prices continued to rise at end of week.

"The volumes delivered and sold continued to rise but still remain far below market capacities. Week four witnessed the highest season average for burley on the market of US$2.60 per kilogramme," said AHL. Enditem