Figures from regulator, Tobacco Commission (TC), show that the green gold has made $99.4 million in 9 weeks of the market, as sales indicate that 68.9 million kilograms (kg) were sold, representing 46% buyers demand.
TC Corporate Planning and Development Manager, Hellings Nasoni, said the market has so far been progressive as prices were raised from $1.28 in week 8 to $1.44 in week 9. Tobacco Association of Malawi Chief Executive Officer, Felix Thole, acknowledged the price raise but said it was lower than expected.
Meanwhile the international market demand is at 151 million kg, which farmers have an overflowing harvest. In a scenario whereby tobacco farmers have grown excess tobacco than the demand by buyers, the Tobacco Commission (TC) allows the farmers to sell the excess tobacco, a process known as uplift. TC Chief Executive Officer said uplifts will be considered only when the farmers sell of their tobacco. “We will offer uplifts when we are satisfied that at least 75% of our farmers have pushed in their tobacco,” Sadala said