Malawi launches soybean exports to China

Published 2024년 5월 7일

Tridge summary

Malawi has made a significant stride in diversifying its agricultural exports by successfully entering the Chinese market with its soya industry. Paramount Holdings Limited, under the Malawi Investment and Trade Center, exported a 240-metric-ton trial consignment of soybeans to China, with plans to export an additional 20,000 metric tons following the trial's success. This move is part of a larger government-to-government agreement between Malawi and China, which also covers macadamia nuts and dry chillies, aiming to reduce Malawi's reliance on tobacco exports and boost its soybean export earnings. This development marks a transformative step for Malawi's export base and economy.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

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 ...

Source: UkrAgroConsult