…As Soya sells at almost 100% above the set price of K450
Government this year set price of soya at K450 per kilogram, however, as soon as the market opened the prices of the crop are averaging between K700 and K850 almost double the set price.
These market prices have so much excited Soya farmers across the country with some of them praising the current government of President Dr Lazarus McCarthy Chakwera for taking a bold step to guide of the prices. In the previous year’s soya could be sold as low as K150 per kilogramme.
According to the snap checks conducted by the Daily Times soya beans is averaging between K700 and K850 per kilogram across the country this translate into 100 percent above increase from government farmgate price of K450 per kg.
The Chakwera led administration raised the prices of Soya beans as one way of empowering farmers economically.
Speaking a Chikwecha Village, Mhuju EPA in Rumphi district during the crop inspection tour last month, President Chakwera told farmers that his government decided to raise the price of soya in order to uplift the plight of farmers in the country
“My government decided to increase the price of soya beans as one way of making sure that we empower farmers economically. We understand the economic challenges Malawians are facing. We believe that by raising the price of some of these commodities like Soya beans we are helping farmers meet their daily needs,” said the president.
Agriculture is the mainstay of Malawian economy, tobacco being its lifeline but the tobacco industry has been declining in recent years due to the anti-smoking campaign which has led to the market being affected by low prices. This has led to many farmers shifting to Soya farming particularly this farming season.