From $7.3 million in the opening week, the tobacco market sales went up to $18 million in the second week, increasing to $30.2 million in the market’s third week.
Figures from the Tobacco Commission (TC) indicate that this year ’s traded volumes are down by 23% while revenue shrinked by 11%. The decline in both volumes reaching the market had been perpetuated by transportation challenges, according to the Tobacco Association of Malawi Chief Executive Officer, Alex Thole.
“The performance in the first four weeks has also been affected by high rejection rate which, at one point, reached 70 percent but now it has improved, standing at 30 percent, which is still high” Thole said.