Demand for Soya beans is expected to rise as a new company, Solvent Extraction and Cooking Oil Refinery, will this year begin manufacturing cooking oil in the country.
This has been revealed during a shareholders’ visit to the construction site in Blantyre to appreciate progress made on the project.
The company’s Managing Director, Abubakar Bakhresa, said the business venture will generate income for local farmers and forex through the export of cooking oil, and soy cakes — which is feed for livestock and is currently on high demand on the international market.
Solvent Extraction and Cooking Oil Refinery, which is a subsidiary of Bakhresa Malawi Limited, will be procuring 150,000 tones of Soya beans every harvest season and create employment for about 500 Malawians.
This development is in tandem with government’s ATM strategy and the country’s 2063 aspirations, which focus on agriculture productivity and commercialisation, industrialization and job creation.
By Evelece Ching’ambe
