Malawi has made $258.2 million (about K452.1 billion) from tobacco, which can help the country import goods and services for one full month since the country requires a monthly import cover of $250 million (K437.7 billion).
The proceeds, coupled with other foreign currency generating avenues, are expected to help continue stabilizing the local currency, Malawi Kwacha.
The money has been realised from 89.8 million Kilogrammes of tobacco sales in nine months at an average price of $2.87 (K5,000) per kilogramme.
During the same period last year, Malawi realized $166.7 million (K291.8 billion) after selling 73.1 million Kilogrammes of tobacco at an average price of $2.28 (K3,900) per Kilogramme.
The Tobacco Commission has since expressed satisfaction with this year’s ongoing marketing season.
