New tobacco buyer on the scene

One more buying company, Hail & Cotton, has been licensed to buy tobacco in the 2023 selling season bringing the number of buyers to 10.TC Chief Executive Officer Dr Joseph Chidanti-Malunga disclosed this on Thursday during a media briefing on the tobacco industry’s preparedness for the 2023 selling season which opens on Wednesday, April 12.

The coming in of a new buyer is good for the industry as this means more competition for our tobacco, thereby assuring growers of competitive prices for their leaf,” said Dr Chidanti-Malunga.

Tobacco production in 2023 is projected at 126 million kilogrammes, up from 85 million kilogrammes in 2022.A recent crop estimates survey attributed the increase in production to good prices for the leaf in 2022, increased sponsorship and friendly weather among other factors.

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