Tobacco market collects $129.7 million in 13 weeks

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Figures from Auction Holdings Limited Group show that the green gold market has hit $129.7 million at the end of week 13 of sales after trading about 85.4 million kilograms (kgs),

The above is a decrease compared to the same period last year, which registered sales amounting to $155.1 million. The 18.2% decrease has been attributed to a drop in sales and volumes to the Covid-19 pandemic. On the other hand, Tobacco Commission Chief Executive Officer, Kaisi Sadala, said the decline in tobacco supplies on the contract market could be attributed to several factors.

Meanwhile, (TC) recently announced that it is considering the introduction of e-ticketing of tobacco marketing to replace physical auctioning on the floors. Moving forward, the AHL Tobacco Sales general manager Graham Kunimba told The Nation newspaper that the initiative will be launched towards the end of this year’s marketing season.

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Edgar Naitha
Reporter|| Music Promotor|| Videographer Email: info@faceofmalawi.com

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