Malawi Broadcasting Corporation
Agriculture Business

Tobacco proceeds hit $81.1 million

Revenue from tobacco has hit $81.1 million during the fourth week of sales, an increase of 89 percent from $42.9 million realized during the same period last marketing season.

This is according to figures released by AHL Tobacco Sales Limited.

The figures indicate that the volumes sold have seen a 47.5 percent increase to 30.1 million kilogrammes from 20.4 million during the same period last year.

The seasonal average price has also gone up by 28 percent to $2.70 per kilogramme from $2.11 per kilogramme last marketing season.

Tobacco remains Malawi’s main foreign exchange earner.

With increased revenue, the country’s import cover, which was at one month by March this year, is expected to improve.

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