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Tobacco 19% lower

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Malawi 
According to Tobacco Control Commission c.e.o. Bruce Munthali, tobacco sold for an average of 19% less than government-set prices during the fourth week of sales, fetching an average of US$1.62/kg. The government has set a price of US$2/kg.
According to Munthali, farmers are currently selling lower-grade tobacco so prices are “good” even though they are below the suggested price. Malawi sold 16.5 million kg between March 15 and April 7, earning US$26.7 million, he said.
Minimum prices for specific tobacco grades were introduced in 2007 after merchants were accused of putting growers out of business by offering lower prices. Last year, president Bingu wa Mutharika deported four executives of three tobacco-buying companies, claiming they had sabotaged his economic agenda.

 

Quarter 4, 2011


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