President Dr Lazarus Chakwera led Govt bags $327 Million in 11 weeks of Tobacco sales 

Revenues from trade tobacco improved significantly by 49.7% valued at $327 million after 11 weeks of tobacco sales this year.

According to a report released by Auction Holdings Limited (AHL) this is a signature milestone compared to $218.5 million the country realized during the same period last year.

“The seasonal average price has also improved by 25.9% with an average price of $2.92 per kilogram after 11 weeks of tobacco sales as during the same period last year the average price was at $2.32 per kilogram,” reads part of the report.

The report also comes at a time tobacco industry sales committee is expected to meet next week to appoint dates for the closure of the 2024 selling season which has been running for 11 weeks.

In a statement released today, 2nd July, 2024, Tobacco Commission (TC), spokesperson Telephorus Chingwenembe says, the industry has just concluded third round survey to determine how much tobacco is yet to be taken to the floors and the results of the survey are expected to be presented on Wednesday 3rd July, 2024.

“Market performance has been impressive since the opening of the season because we have seen tobacco of good quality and unprecedented prices. Even more impressive is the fact that trading has been smooth, without disruptions during this period,” Chingwenembe highlighted.

He adds that as commission, they believe that the trends will be intact up to the end of the selling season.

As week 11 elapses, 9,909,074 kilograms of burley has been sold accumulating USD 30,450,991.10 while 1,571,821 kilograms of Flue Cured has been sold worthy USD 5,539,050.25 and Dark Fired type of tobacco worthy 128,836 kilograms has realized USD 332,403.01. All these sales has been realized with an average price of USD 3.52 per kilogram.