Thursday, July 18, 2024

Malawi Tobacco sales rakes in forex, $85 million dollars so far

Impressive Tobacco Sales

Tobacco continues to be a game changer as far as generating forex in the country is concerned. Hear this: the Tobacco Commission of Malawi (TCM) has revealed that the country generated approximately 85 million dollars, which is close to K85 billion, in the sixth week of the ongoing tobacco market season. Telephorus Chigwenembe, the spokesperson for the Commission, expressed delight at this achievement, highlighting the good performance in tobacco sales.

According to Chigwenembe, the country during this period managed to sell around 39 million kilograms of tobacco. Chigwenembe further mentioned that the average prices of tobacco have been increasing each week. In the sixth week, the average price was recorded at 2 dollars and 19 cents, marking an increase of 4 cents from the previous week.

Chigwenembe also commended the farmers for their contribution to this success. He stated that the farmers have been producing high-quality tobacco, leading to a low rejection rate of less than 1%. This indicates that the majority of the tobacco produced meets the required standards, further contributing to positive sales performance.

Overall, these figures and statements reflect a prosperous tobacco market season, demonstrating the efforts and achievements of both the Tobacco Commission and the farmers in the country.



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