Malawi launches soybean exports to China

Malawi’s soya industry has made a breakthrough into the Chinese market as the southern African country seeks to increase agricultural exports to boost the economy. Malawi Investment and Trade Center Chief Executive Officer Paul Kwengwere confirmed to local media Friday that a 240-metric-ton trial consignment by Paramount Holdings Limited, a local company, was exported to China. This was a culmination of efforts by various stakeholders, including government agencies, private enterprises, and Chinese representatives, he said. Paramount Managing Director Mahesh Ghedhia told local media that the successful trial will lead to exportation of 20,000 metric tons of soybeans by his company. “This shipment opens a door for Malawian exporters and we plan to increase our volumes because the Chinese market is looking for 100,000 metric tons of soya. We signed a 20,000-metric-ton contract,” Ghedhia was quoted as saying. According to Ghedhia, the exports are subject to waivers that the Ministry ...