Malawi is exploring a $57 billion market opportunity in China as the Malawi Investment and Trade Centre (MITC) calls on groundnuts and soybeans exporters to harness it.
MITC Director General Kruger Phiri said that the initiative has already generated significant interest, with 42 enterprises expressing interest for groundnut exports and 40 willing to export soybeans.
“This market is available for the foreseeable future subject to Malawi enterprises’ ability to meet phytosanitary quarantine standards of the People’s Republic of China for the said products,” Phiri said.
Grain Traders and Producers Association President Grace Mijiga said industry players remain committed amid challenges.
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Latest figures from the National Statistical Office show that Malawi’s exports remained minimal, recorded at $863.67 million in 2022, $919.8 million in 2023, and $927.3 million in 2024.
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The Ministry of Trade and Industry has been actively pursuing policies and strategies to boost exports, including the implementation of the National Export Strategy II and participation in the African Continental Free Trade Area.
In October 2023, MITC received preferential quotas and duty-free market access to enhance exports to China, fostering economic and trade cooperation between the two nations.
Figures from the International Trade Center, Trade Map show that Malawi’s soya bean exports declined to $25.8 million in 2022 from a record $109.5 million in 2021 representing a 76.4 percent decline.
