Tobacco Prices have shown an improvement, compared to when the market opened in April. Seven weeks into the market season, figures released by Tobacco Commission (TC) have shown that the leaf was fetching an average price of $1. 40 (about K1 033) per kilogramme (kg) compared to the first week of the sales when the average price was $1.28 (about K944) per kg.
TC figures show to date, the green gold has made $62 million (about K46.4 billion) from 44 million kg of tobacco sold. Compared to last year, revenue has dropped by 37% from $99 million (about K73 billion) from 62 million kg sold. The figures represent a 28% drop in the volume sold compared to same period last year.
The improvement in figures was a prediction by the Tobacco Association of Malawi (Tama) said that the decline in sales last week should not lead to hasty conclusions, as things may pickup.