Business is booming.

Malawi’s soybean industry breaks through to Chinese market

By Our Reporter

Following culmination of efforts by the Malawian Government, various stakeholders, including government agencies, private enterprises and the Chinese representatives, about 240 metric tons trial consignment of soya beans exported to China from Malawi has been appoved by the Chinese authorities.

Malawi’s Minister of Finance and Economic Affairs, Sosten Gwengwe, described the breakthrough as a game changer that will transform the export base currently dominated by tobacco.

The Chief Executive Officer (CEO) Trade Centre of the small African country, Paul Kwengwere, expressed joy as regard the development.

He confirmed approval of the Southern Africa country’s soybeans consignment to the local media at weekend in Lilongwe, Malawi’s capital.

According to the Managing Director Paramount Holdings Limited, Mahesh Gnedhia, when he announced to the local media that his company emerged successful during presentation of the soybeans consignment to the Chinese authorities, he said efforts was made before the departure of consignment of the soya beans to ascertain the quality of the produce by the Chinese authorities.

Gnedhia, noted that the successful trial will lead to the expoeratation of 20,000 metric of soybeans.

”This shipment opens a door for Malawian exporters and we planned to increase out volumes because the Chinese market is looking for 100,000 metric tons of soya. We signed a 20,000 metric tons,” Gnedhia said.

According to him, the exports are subject to waivers. Ministries of Industry, and Agriculture, will give such waivers to exporters as the produce is under export restrictions.

Giving an insight into the development, Sosten Gwengwe, told local media that the export deal with China was government-to- government agreement.”So far, they have signed protocols on soybeans, macadama nuts and dry chillies. Negotiation are going on to sign protocols on tobacco, tea and ornamental fish.

The minister added that the Chinese authorities were doing their accreditation of individual exporters of all the accredited commodities to ensure standards.

”Those exporters that have been accredited will be given waivers on the export restrictions because they ought to fulfil contracts they signedwith the Chinese importers,” said Gwengwe.

Soybeans recorded a total exports of $6.9 million in 2023, according to the country’s 2024 annual income report.


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