Africa-Press – Malawi. Earnings from various exports declined by 11.8 percent to K149.5 billion in the first quarter of the 2022-23 financial year from K169.5 billion last year. This means that the country was able to generate about $130 million (at the current rate) from exports during the period.
Figures from the Ministry of Trade show that earnings from soya beans had risen by 243.9 percent to K43.4 billion, sugar earnings rose by 89.9 percent to K6.6 billion while earnings from cotton seed increased to K1.1 billion, representing a 35.8 percent rise.
Earnings from pigeon peas declined by 86 percent to K567.8 million while earnings from macadamia nuts went down by 69 percent to K3 million. Earnings from tea also declined by 30 percent to K14.4 billion. Experts have attributed the decline in the earnings to reduced production of agriculture commodities and increased rate of smuggling.
President of the Grain Producers and Traders Association (GPTA) Grace Mijiga Mhango said the local market has been flooded by east African traders who are taking commodities to markets in Kenya and Rwandwa without declaring.
Agriculture commodities trade expert Leonard Chimwaza said the country was devastated by fall army worms and tropical storms that affected production of crops.
“We need to increase production of all these commodities that we export even maize. This crop was affected by the cyclones and fall army worms but was in demand both local and among our neighbours and in the region,” Chimwaza said.
The country struggles with balance of payment issues owing to a weak export base against a huge appetite for imports. Currently Malawi is riddles with foreign exchange shortages a development that is threatening the next agriculture season.
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