Ministry of Trade and Industry says Malawi needs to enhance mobilization of producers and exporters following the Government of the Republic of Tanzania’s commitment to import Soya Beans in the 2022/23 growing season.
Speaking on Thursday afternoon when he met the High Commissioner of the United Republic of Tanzania, Minister of Trade and Industry, Simplex Chithyola Banda said there is need for structuring the Soya Beans market to ward off informal traders and earn Malawi foreign exchange.
“Government of Tanzania through its High Commissioner has committed to facilitate the purchase of 100,000 metric tonnes of Soya Beans worth about USD30million this year. Malawi is estimated to harvest 387000 metric tonnes of Soya Beans in the 2022/23 season. Hence we will be able to satisfy the demand of Tanzania and since all Soya is non-genetically modified we will meet the product specifications as required by Tanzania.
“Currently we are doing aggregation by identifying relevant cooperatives and associations involved in Soya production, transportation and exportation. The Tanzania High Commission will submit a Note Verbale through Foreign Affairs to formalise the deal,” Chithyola said.
He said this is an opportunity for farmers in the country to produce more Soya Beans and get a good price for their produce.
In his remarks, High Commissioner of the United Republic of Tanzania to Malawi Humphrey Polepole said there is an opportunity in his country to increase cooking oil production hence looking at buying more from Malawi.
“In the spirit of good neighbourliness we have decided to look to Malawi for the Soya Beans so that we could also assist earning your country foreign exchange. We are looking forward to this government-to-government relationship and ready to do business with a human face,” he said.
By Mike Van Kamande.