JTI touts 2021 tobacco sales season, buys 24m kg
JTI Leaf (Malawi) Limited has described the 2021 tobacco marketing season as successful with the company buying about 24 million kilogrammes (kg) of burley from its contracted growers.
Last year, the company bought 23 million kg of tobacco.
JTI Leaf (Malawi) Limited corporate affairs and communications director Limbani Kakhome said this during a virtual meeting on Wednesday to give an overview of the 2021 tobacco market dynamics from JTI perspective.
He said the 24 million kg it bought generated $42 million (about K34 billion).
Overall, 130 million kg of tobacco, of which 121 million kg was burley, were delivered during this year’s tobacco market.
“We again had a successful season from the JTI perspective in spite of the pandemic. Unlike last year, this year’s marketing season we were allowed a sizeable number of growers to attend and monitor sales while observing all Covid-19 protocols,” he said
On his part, JTI leaf director Thomson Bonga described this year’s quality leaf as “phenomenal”, adding that the the high rejection rate was mostly on the auction market.
He said the leaf on the contract market was “well graded and well-conditioned”.
AHL Group public relations manager Teresa Ndanga said as of week 19 of tobacco sales, the country sold 121.7 million kg which is an improvement from the 113.8 million kg sold during the corresponding period last year.
In terms of revenue, she said tobacco, touted as the country’s main foreign exchange earner, has raked in $194.9 million (K160 billion) compared to $174.5 million (K143 billion) realised during the same period last year.
