Fears about forex

| August 1, 2019

Tobacco sales in Malawi are down compared to the same period last year, bringing fears that the country might face foreign exchange shortages, reports the Nyasa Times.

Statistics show that on the 14th week of trading on auction floors, 1.2 million tons of tobacco has fetched MWK138 billion ($185 million) so far. During the same period last year, 1.5 million tons of tobacco was sold, fetching over MWK170 billion

Some economists say this is as a result of the anti-tobacco campaign worldwide, but the Tobacco Control Commission maintains the tobacco prices are now picking up.

 

 

Category: Breaking News, Leaf

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