After opening of Lilongwe auction floors on 9th April 2018, the Chinkhoma auction floors opened its doors on 11th April 2018. The official opening was presided over by the Principal Secretary (PS) for Ministry of Agriculture, Irrigation and Water Development, Mr. Nyandule Phiri on behalf of the Minister responsible.
The PS of Agriculture, Irrigation & Water Development making remarks to mark the official opening of 2018 tobacco sales at Chinkhoma floors.
In his remarks, the PS appealed to farmers to grade their tobacco properly so that it attracts competitive prices. The buying companies were called upon to compensate the farmers for the sweat through competitive prices.
Echoing the statements by His Excellency the State President during the official opening of Lilongwe floors, the PS reiterated the appeal to all players to desist from indulging in illegal vending and cross border trade. He said the malpractice erodes Malawi of its competitive advantage. He also informed all stakeholders that Government has kin interest in the welfare of farmers. As such, efforts are at advanced stage to finalize the review of legislative laws governing the tobacco industry.
Speaking at the same function was the Board Chairman for the Board of Directors for Tobacco Control Commission, Inkosi Ya Makosi Mmbelwa V, who assured all stakeholder, of TCC’s commitment to regulate the tobacco industry to the benefit of both the farmers and the tobacco buying companies. He, therefore, appealed to farmers to adhere to standards that promote sustainable tobacco production and marketing.
The Chairman of Board of Directors for TCC making remarks during official opening of 2018 tobacco sales at Chinkhoma floors on 11th April 2018
A total of 2,010 bales were offered for sale through auction system where 2,883 bales were laid for contract system. The highest price was US$1.60 per kg and US$2.30 per kg on auction and contract, respectively. It was encouraging to note the good quality tobacco on offer than for Lilongwe floors.
‘No sale’ rejection on auction system closed at 1.9%, an improvement over Lilongwe floors where it registered 17.4% on the first day.
Farmers were all smiles on the first day of sales and were very optimistic of improved prices as the market progresses.