The Tobacco Commission (TC) says this year’s tobacco marketing season has been the best so far, with better prices being offered to farmers.
TC spokesperson Telephorus Chigwenembe said this ahead of the close of the 2024 tobacco marketing season on August 2, 2024, with the final sales to be conducted at Mzuzu Floors after 16 weeks of tobacco sales.
Said Chigwenembe: “This has been one of the best marketing seasons so far, especially in in view of unprecented prices and smooth trading. The Commission is happy with how the season has gone so far.”
According to TC, Chinkhoma officially closed on July 12 while Lilongwe and Limbe floors will be closed on July 19 and August 2 respectively.
Meanwhile, as of Thursday July 11, 123.4 million kilogrammes (kg) of tobacco valued at $367.1million (about K630.31 billion) had been sold at an average price of $2.95 (about K5, 065.21) per kg.
Going by TC’s figures, the price of tobacco has increased per week since President Lazarus Chakwera opened the season at Chinkhoma Floors in Kasungu in mid-April 2024.
Tama Farmers Trust president Abiel Kalima Banda said overall the market is progressing well with better than the government set minimum prices being realised from burley tobacco although with some reservations on flue-cured leaf.
“The market is still progressing to the advantage of farmers because prices remain impressive. I have seen the highest price hitting $3.15 per kg especially for burley which is giving hope to tobacco farmers,” he said.
This year, the country is projected to produce 140 million kg against the buying companies’ demand of about 190 million kg.
In the 2023 marketing season, cumulatively the country earned $282.62 million from tobacco sales, after selling more than 120 million kg of the leaf at an average price of $2.35 per kg.
