Tobacco revenue falls 2%
Tobacco sales in week 13 raked in K24.1 million, down from $24.59 million realised in the previous week, Auction Holdings Limited (AHL) sales summary for week ending June 7 has indicated.
The AHL statistics indicate that total revenue in week 13 hit $183.5 million from a total of 92.2 million kilogrammes (kg) of tobacco sold.
The proceeds comprised 81.06 million kg burley raking in $151.88 million, 9.4 million kg flue cured realising $27.69 million, and 1.8 million kg dark fired raking in $3.94 million.
“Bale throughput which reached season high of 92 percent in previous week dropped to 85 percent in week 13 due to sales disruptions in Mzuzu.
“The drop in throughput translated in a two percent drop of weekly revenues earned when compared to previous weeks revenue. Weekly flue cured average prices posted an impressive positive variance of $0.14 that has resulted in cumulative average moving by $0.04 to $1.99 per kg,” said AHL.
In the week ending June 7, 8.7 million kg of burley were sold realising $18.17 million, 1.6 million kg of flue cured were sold realising $5.28 million, according to AHL.
