PH
Malawi tobacco officials have predicted a 55% increase in product sales to $282 million, up from $182 million last year.
Despite the increase, sales this year are still lower than in prior years, when they exceeded $350 million.
Last year’s output was lower since the Southern African country lacked sufficient dollar reserves to acquire various agricultural supplies such as fertilizers and even petrol.
The good weather, according to Malawi’s Tobacco Commission Spokesperson, has increased this year’s production, which is worth more than $121 million.
Malawi is one of the poorest countries in the world, but it is a big tobacco grower, ranking first in the world for burley and eighth overall.
No other economy is as reliant on the leaf. According to government estimates, tobacco accounts for more than 70% of the country’s export revenue.
Tobacco profits, called ‘Malawi’s Green Gold,’ have declined over the last decade due to decreased global demand spurred by anti-smoking initiatives.
