Malawi has suffered a loss of K73 billion in tobacco sales as tobacco sales go into its final week.
Auction Holdings Limited coroporate manager Mark Ndipita said tobacco sales have rakes in K171 billion so far in the last six month tobacco market.
However, same period last year, according to Ndipita, the market raked in K244 billion.
“This year we had low prices coupled with the high rejection rate,” said Ndipita.
He said this year, 150 million kilograms has been sold off compared to last year’s 190 million kilograms.
“We are now in the last week of selling tobacco but we are not doing well,” he said.
This year, tobaccoi sold at an average US$1.36 as opposed to last year’s US$1.76Follow and Subscribe Nyasa TV :