Business

Economic Experts dissatisfied with tobacco sells in week 7

Economic experts have described the eighty three Million U.S dollars amount that Malawi has generated from this year’s tobacco sells in  week seven of the tobacco market as little to meet the country’s needs.

Speaking with Maziko Radio, Economic Analyst Dumbani Mzale Said such amount is not enough for the country, since Malawi   requires about 209 million US Dollars monthly to run its operations.

However, Mzale was quick to attribute such little amount to challenges that the tobacco industry has been facing in the country.

‘You know this country needs about 209 million US Dollars to run its full operations, so in my view the money is not enough.

‘This could be as a result of high rejection rate that a lot of tobacco has faced on the market, among others; but maybe we should still wait for the rest of the tobacco sells to see if as a country we may yield something big out of it’ Said Mzale.

But according to Action Holdings Limited Tereza Ndagha, the tobacco sells is week seven are high as compared to the same last year.

President Chakwera opened this year’s tobacco marketing season on 24th April, 2021 at Lilongwe auction floors with a lot of optimism that tobacco farmers would highly benefit from this year’s sells.

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