Tobacco fetches historic K259Billion in six weeks of marketing

By Alfred Chauwa – Senior Business Analyst

Malawi’s most prestigious selling leaf Tobacco, continues to dominate on the international market as for the sixth week of the market season elapse, the country has realised $144 million dollars equal to MK259 billion.

According to Tobacco Commission spokesperson, Telephorus Chingwenembe, this is translating to $59 million dollars higher than the $85 million which was realized during the same period last year.

Tobacco Commission (TC) express excitement with the progress made.

“This far we have a good basis to be confident that 2024 will be one of the best selling seasons in the recent times,” Chingwenembe said.

He has then attributed this to a good pricing which has seen the average prices of the leaf per killogram going up every week.

“By week 5 it was $2.74; by week 4 it was $2.70; by week 3, it was $2.67 and by week 2 and 1 it was $2.64 and $2.57 respectively,” he adds.

The tobacco commission believes that an increased earnings for tobacco farmers will improve forex inflow.

The good prices compliment well with what the state president said and promised during campaign time.