(MENAFN) Malawi's soya industry has achieved a significant milestone by breaking into the Chinese market, marking a pivotal moment for the country's agricultural sector and broader economic aspirations.
The successful export of a trial consignment totaling 240 metric tons by Paramount Holdings Limited, a local company, has been confirmed and approved by Chinese authorities, according to Paul Kwengwere, CEO of the Malawi Investment and Trade Center.
This achievement reflects a collaborative effort involving various stakeholders, including government agencies, private enterprises, and representatives from China. The successful accreditation process undertaken by Paramount Holdings Limited, as mentioned by Managing Director Mahesh Ghedhia, underscores the rigorous quality assessment conducted by Chinese authorities to ensure the suitability of the produce for the market.
With this successful trial, Paramount Holdings Limited is poised to further capitalize on this opportunity, with plans to export a substantial quantity of 20,000 metric tons of soybeans to China.
"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 tons contract," Ghedhia is cited as saying.
Ghedhia explained that the exports are contingent upon waivers granted by the Ministry of Trade and Industry and the Ministry of Agriculture, given the export restrictions currently imposed on the produce.
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