Authorities at Kanengo Auction Floors have said there is a decline in the rejection rate of Tobacco to 46 percent as of May 23, 2016.<\/p>\n
Corporate Affairs Manager for Auction Holdings Limited Group, Mark Ndipita, says there is a huge improvement as compared to the first week when the rejection rate was at 70 percent.<\/p>\n
\u201cThere is an improvement from the 70 percent when we opened Lilongwe market last month and a slight improvement from week five when the floors recorded a rejection rate of about 50 percent,\u201d Ndipita said.<\/p>\n
The Auction Floors is also reported to have registered a change in the average prices on both auction and contract basis.<\/p>\n
According to Ndipita, in the same week, burley was trading at an average of price of 90 cents per kilogramme on auction while under contract the average price is $1.27 cents per kilogramme.<\/p>\n
\u201cComparing with week five of sales burley under auction sale had an average price of $0.80 cents per kilogramme while burley tobacco under contract was $1. 21 cents per kilogramme,\u201d he added.<\/p>\n
Some tobacco farmers at Kanengo auction floors expressed satisfaction with the new tobacco prices.<\/p>\n
One farmer Simeon Cent from Mchinji, who sold his tobacco under Alliance One contract, said tobacco is now fetching higher prices for those who have high quality tobacco.<\/p>\n
Tobacco farmers especially those trading under contractual agreement say the number one export deal is now trading at a maximum of $4. 30.<\/p>\n","protected":false},"excerpt":{"rendered":"
Authorities at Kanengo Auction Floors have said there is a decline in the rejection rate of Tobacco to 46 percent as of May 23, 2016. Corporate Affairs Manager for Auction Holdings Limited Group, Mark Ndipita, says there is a huge improvement as compared to the first week when the rejection rate was at 70 percent. […]<\/p>\n","protected":false},"author":3,"featured_media":22654,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-25059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/25059","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/comments?post=25059"}],"version-history":[{"count":1,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/25059\/revisions"}],"predecessor-version":[{"id":25062,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/25059\/revisions\/25062"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media\/22654"}],"wp:attachment":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media?parent=25059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/categories?post=25059"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/tags?post=25059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}