Malawi Grosses US$38m from Tobacco Sales

Source from:  African Press Agency (APA) (sn)  04/30/2014

Malawi has earned K15 billion (about US$38 million) from tobacco sales during the first five weeks of the 2013/2014 marketing season, the Tobacco Control Commission (TCC) announced Tuesday.TCC chief executive Bruce Munthali said 28 million kilogrammes of tobacco have so far been sold at the auction floors compared to 18.8 million sold last year the same period.

The earnings so far this season were 38 percent higher than during the same period last year.

He told journalists in Lilongwe that the increase was on the back of firm prices offered by buyers for the golden leaf.

"We are happy with the way our tobacco is being sold at the market and we are hoping that as the market goes on the prices will increase for better," he said.

Tobacco is the major exchange earner for a landlocked country. Enditem