Malawi: Forex Down As Malawi Tobacco Sales Take Nose Dive

Photo: The Herald
Tobacco farm.

Tobacco sales is down compared to same period last year, bringing fears that the country might face forex shortages.

Tobacco farmers sad with low prices

Statistics show that on the 14th week of trading on auction floors, tobacco has fetched K138 billion.

The money has been realized from 1.2 million tonnes of tobacco sold so far.

Same period last year, 1.5 million tonnes of tobacco was sold bringing into the country over K170 billion.

Some economists say this is as a result of a robust anti-tobacco campaign worldwide.

But Tobacco Control Commission maintains the tobacco prices are now picking up.

The Commission said the tobacco sales were affected by the tobacco prices which were hovering at US$1.4 cents per kilogram, saying the prices are now around US$1.7 per kilogram.

See What Everyone is Watching

More From: Nyasa Times

Don't Miss

AllAfrica publishes around 700 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.