Malawi Earns $138m in Tobacco Sales

Source from:  StarAfrica.com 06/12/2014

Malawi has realised about $138 million in tobacco sales over the past 11 weeks, marking a 38 percent increase over last year's sales, Auction Holdings Limited (AHL) claimed. According to a report by the AHL on Wednesday, as of the 11th week, 83.605 million kilograms have been sold with burley accounting for 77.1 million kg, with flue cured selling 5 .5 million kg and the remaining 336,000 kgs of dark fired.

It said sales of dark fired tobacco dropped by 25 percent, from $2.20 per kg to $1.65 per kg.

"This is the biggest drop in the sales of the dark leaf this season," the report said.

But the Tobacco Control Commission (TCC) Chief Executive Officer Bruce Munthali said the way tobacco sales are progressing was cause for confidence in the nation's economy.

"We are optimistic that the trend will continue thereby realising more foreign exchange" he added.

Tobacco production is one of Malawi's largest sources of income and contributes to 13 percent of the country's Gross Domestic Product (GDP). Enditem