MARKET COMMENTARY AS OF 21 APRIL 223

1. More volume of tobacco sold and better average prices contributed to higher earnings the country has realised from tobacco sales after 2 weeks in 2023 season, compared to that earned during the same period in 2022. $16.1 million has been generated after 2 weeks of sales this year, compared to $0.5 million earned during similar period last year.
2. A total of 8.1 million kilograms of burley and flue cured tobacco have been sold at an average price of $1.99/kg after 2 weeks of sales this year. During the same comparative period last year, 0.4 million kilograms of tobacco had been sold at an average price of
$1.40/kg.
3. Current market trend: Tobacco supplies on the market are on the increase and sales are also increasing towards the recommended trading capacity, especially on Lilongwe Floors. During similar period last year, tobacco deliveries were on the decline with
depleted sales.
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