Malawi tobacco earnings, which provide 60 percent of its export revenue, have slumped from US$356 million last year to US$158 million this year, a senior tobacco industry official said on Monday. Tobacco Control Commission CEO Bruce Munthali said that so far, tobacco sales this year have gone down by over US$100 million. â€˜â€™But we still have about 90 kgs not sold and this is as a result of low tobacco prices at the floors that has made many farmers shun the marketâ€™â€™ Munthali said. Low tobacco receipts for the last two years have compounded Malawiâ€™s forex shortage resulting into massive shortages of fuel. Tobacco employs an estimated 2 million people in related industries. The sales close next month.
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