Malawi makes K70 Billion from tobacco sales

The Tobacco Commission (TC) has reported that burley tobacco sold through auction arrangements experienced a rejection rate of 91.8 percent during the fourth week of this year’s tobacco selling season with figures now at $40.8 million, approximately K70.7 billion.

TC Spokesperson, Telephorus Chigwenembe, has verified this information, adding that contract burley tobacco represented the largest portion of sales, contributing 16.3 million kilograms.

He mentioned that in the fourth week of the market, K70.7 billion, was generated from the sale of 19.3 million kilograms of tobacco.

Recently, some agricultural experts have pointed out that this situation arises from an overproduction of the leaf exceeding demand, and many tobacco farmers lack a ready market for their product since they are not engaged in contractual farming.