A method of and apparatus for adjusting and controlling the moisture content of carbonaceous fuel components used in making smoking articles comprises a mass flow accumulator and a dryer through which the fuel components are conveyed. Unheated air is flowed over the fuel components in the accumulator to adjust and maintain the moisture content of the fuel components to a level which permits cutting of the fuel components without chipping or cracking. After the fuel components are cut into individual fuel elements and combined with an aerosol generator or substrate they are conveyed through the dryer where heated air is flowed over them to further reduce the moisture content to a desired level for further processing and manufacture into smoking articles.