Current figures from the 2019/20 tobacco market season, show that total sales are most likely to be lower than last year’s season.
Recent figures from AHL Holdings, show that by the end of week 17 of tobacco sales, the country made $168 million, representing a $36.3 drop from $204.3 million made during the same time last year. While the covid-19 pandemic stands as a contributing factor to the lowered sales, there was also a high rejection rate reaching up to 50% this year.
However, during the beginning of the market this year, the Tobacco Commission (TC) expressed optimism that the ongoing 2019/2020 Tobacco Marketing season will rake in increased revenue. Evidently, it is time the country diversifies its output and stops relying on the green gold as its main cash crop. Last year, the Tobacco Association of Malawi (Tama) President Abiel Masache Kalima Banda revealed that the firm developed a five-year strategic plan which will see it opt for other crop value chains apart from tobacco. Band announced the re-branding, which would open the association to other crops in its business endeavors.