Hope For Kwacha As Tobacco Market Opens March 11
The hopes came as The Tobacco Control Commission (TCC) announced that this year’s tobacco selling market season is expected to open on March 11, 2013.
TCC Spokesperson Juliana Chidumu said on Thursday the selling season would start in Lilongwe on March 11, followed by Mzuzu on March 13.
She said Limbe Auction Floors will open on March 18 while sales at Chinkhoma in Kasungu will start on April 8.
“All is set for the season and we are looking forward to have a good selling season as you are aware that this time around most of the tobacco will be sold through contract following the IPS project,” said Chidumu.
She said as TCC they cannot say anything on the prices but are hopeful that this year’s prices will be good.
Tobacco is regarded a main forex earner and economic experts hope the sales will help slowdown the kwacha’s fall.
The kwacha has been on a downward trend ever since the Joyce Banda administration adopted a fully liberalised economy of which she claims was an advice IMF and world bank’s advice .
However the development has resulted in the kwacha losing the value by the day which reflects on the prices of commodities.
Some experts have always argued that Malawi’s economy can afford a fully liberalised policy.
CAMA’s executive director John Kapito has advised government to at least stop the floatation of the Kwacha and start managing it. But Government has denied such a move while saying they can not reverse the decision.
This lives Malawians hoping for good tobacco sales which could say the kwacha stabilise for a while.