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International tobacco buyers boycotted auction floors in Malawi on Tuesday in protest against President Bingu wa Mutharika’s imposition of minimum prices for the commodity, which is the country’s economic mainstay.
Tobacco Control Commission (TCC), the industry’s regulatory body, said that the buyers had decided not to purchase tobacco when the auction season began this week, and asked for more talks on the price.
“They want the issue to go back to the president because they believe the prices have to be dictated by demand and supply,” TCC general manager Godfrey Chaponda told Reuters.

Posted: 03|30|06 at 8:46 am. Filed under: Auction News.