Malawi’s prominent agriculture player Paramount Holding exports 240 tons of Soya beans to China
The country’s prominent agriculture player Paramount Holdings Limited (PHL) has this week exported 240 tons of Soya beans to China.
This is the first largest Malawi’s Soya beans export to China.
The development comes barely a week after the Ministry of Agriculture contracted PHL as one of the buyers of soya beans from mega farms farmers’ initiatives.
Malawi Investment and Trade Centre (MITC)’s brief statement issued lauds PHL for breaking market barriers on the country’s cash crops.
“In a significant milestone for Malawi’s agricultural sector, the first trial of soya beans has been shipped to China under the Chinese Soya Beans Protocol. This marks a crucial step in testing the market for Malawian soya beans in China, one of the world’s largest importers of agricultural products.
“The soya beans were exported by Paramount Holdings Limited, a prominent player in Malawi’s agricultural industry, headquartered in Lilongwe,” reads MITC statement in part.
MITC adds, “This venture not only holds immense promise for Paramount Holdings but also reflects positively on Malawi’s potential to expand its agricultural exports and strengthen its economy.
“Thanks to collaborative efforts between MITC, Paramount holdings, Malawi Embassy in China and Chinese authorities, 240 tons of Soya beans arrived in China this week”.
PHL Executive Director Prakash Virji Ghedia said the first soya bean consignment is a breakthrough for Malawi’s produces potential markets.
Ghedia observes that the export will generate much needed forex for Malawi.
“We very excited to fulfil Malawi government agenda towards breaking barriers for cash crops export. We need more markets for Soya beans from our local farmers,” excited Ghedia.
He adds, “Our selection for this venture came after due diligence from the china team choose only paramount holdings ltd out of 36 company to export soya beans to China. China team and Chinese embassy visited paramount holdings warehouses and cleaning facility before issuesing licence to paramount holdings.
“Paramount Holdings set up modern infrastructure and machineries for soya processing in malawi Lilongwe.”
While lauding the development, agriculture expert Tamani Nkhono Mvula argued that the government created a conducive policy direction for more production than the current situation.
Mvula observes that Malawi is failing to meet market demands for Soya beans due to low production.
“There is a great demand for soya bean on global market that Malawi is unable to capitalize for forex generation. For instance, last year, Kenya and Tanzania wanted 150,000 tons of Soya bean, but Malawi failed to meet the demand.
“Therefore, there is a need for government to link up local farmers with potential market for produces than only letting them to look for themselves while on the other hand, Agriculture Ministry must intensify cash crops production to meet international market demand,” urges Nkhono-Mvula.
This means that Malawians can export soya beans to China directly for the first time in the history of Malawi and generate forex.
The market is opened after completing rigorous compliance procedures.
Malawi is expected to produce 235,487 tons of Soya beans for 2023/2024 growing season according to the Ministry of Agriculture’s third crop estimates report.
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