Malawi earns $166.7 million from 67% tobacco | The Times Group: Malawi earns $166.7 million from 67% tobacco
Posted By: William Kumwembeon: June 20, 2018In: BusinessNo Comments
Malawi has so far realised a total of $166.7 million from sales of top export crop, tobacco, a 33.6 percent jump when compared to same period last year, thanks to increased volumes traded, figures from regulator, the Tobacco Control Commission (TCC), have shown.
During the first 10 weeks of trading last year, the green gold had raked in $124.7 million.
The figures indicate that as at Friday last week, sales volumes for all types of tobacco stood at 98,596,916 kilogrammes (kg) compared to 65,148,859 kgs sold during the same time last year, representing a 51.34 percent rise.
The traded volume is 66.7 percent of the 149 million kg estimated to have been produced by farmers this year.
However, average price remains relatively weak this year at $1.69 per kg, which is 11.17 percent shy of the $1.91 per kg that the leaf was fetching during the same time last year.
All things being equal, at the rate tobacco sales are going, Malawi could earn slightly over $252.9 million this year, compared to about $212 million earned last year.
Posted By: William Kumwembeon: June 20, 2018In: BusinessNo Comments
Malawi has so far realised a total of $166.7 million from sales of top export crop, tobacco, a 33.6 percent jump when compared to same period last year, thanks to increased volumes traded, figures from regulator, the Tobacco Control Commission (TCC), have shown.
During the first 10 weeks of trading last year, the green gold had raked in $124.7 million.
The figures indicate that as at Friday last week, sales volumes for all types of tobacco stood at 98,596,916 kilogrammes (kg) compared to 65,148,859 kgs sold during the same time last year, representing a 51.34 percent rise.
The traded volume is 66.7 percent of the 149 million kg estimated to have been produced by farmers this year.
However, average price remains relatively weak this year at $1.69 per kg, which is 11.17 percent shy of the $1.91 per kg that the leaf was fetching during the same time last year.
All things being equal, at the rate tobacco sales are going, Malawi could earn slightly over $252.9 million this year, compared to about $212 million earned last year.
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