Image : Malawi Investment Trade Centre
The Ministry of Trade and Industry, in collaboration with the Ministry of Agriculture, has suspended exportation of raw soya beans effective 8 April, 2024.
In a joint statement, the two ministries have said the restriction has been necessitated by national crop estimates exercise carried out by the Ministry of Agriculture which showed that there is a 20% decline in production of soya beans due to adverse weather conditions experienced in the current farming season.
This means that previous licences on exportation of raw soya beans that were issued by Ministry of Agriculture will be invalid from 8 April, 2024.
The statement further said the restriction is aimed at supporting local industries and investors in the soya value chain.
Soya beans is the main raw material in the production processes of cooking oil, soya cake, among others.
By Alufisha Fischer
#MBCDigital
#Manthu
