News
Breakthrough in Cannabis Industry: Malawi Gold Exports Set to Soar
In a historic move, the Malawian government has paved the way for the inaugural export of Malawi Gold cannabis biomass to Macedonia, thanks to the local off-taker, NexGen Medical Limited. This landmark decision is poised to contribute significantly to Malawi's economy, with an estimated annual revenue of $500 million from the export of this valuable biomass.
The extraction process of the crude product has already commenced, undertaken by the reputable instaDose. Upon the successful extraction and testing, this valuable commodity will find its way to a multitude of esteemed pharmaceutical companies.
Dr. Alfred Mwenefumbo, the Controller of Agriculture Extension and Technical Services responsible for the Private Sector Mega Farms Programme strategy within the Ministry of Agriculture, confirmed this momentous development. He emphasized that this strategic move would yield an impressive $500 million annually from the export of Malawi Gold Cannabis biomass, effectively placing Malawi on the global cannabis export map.
Dr. Mwenefumbo disclosed that in just two weeks, the government is anticipating the results from Macedonian off-taker instaDose, a potential partner in the export venture. This move is significant not only for its economic implications but also as a testament to the efforts of the Cannabis Regulatory Authority and the Malawi Police Headquarters. Both entities worked tirelessly to ensure the successful clearance of the 15,000 kilograms of Malawi Gold Cannabis biomass.
In acknowledging the cooperation and support, Dr. Mwenefumbo expressed his gratitude to the Inspector General of the Malawi Police Service and personnel from the Cannabis Regulatory Authority, who played a pivotal role in facilitating the exportation of this high-value product.
Additionally, Dr. Mwenefumbo emphasized that the extraction of the crude product has already commenced under the aegis of instaDose. Upon its successful production, these valuable cannabis derivatives will be shipped to various reputable pharmaceutical companies in Europe. This collaborative effort is expected to yield official orders, ultimately determining the production volumes that Malawi can achieve.
As part of the Mega Farm implementation, Dr. Mwenefumbo unveiled plans for the future, with Malawi set to engage in the outdoor production of Malawi Gold Biomass in the upcoming season. This move aims to further bolster the country's cannabis industry and position Malawi as a major player in the global cannabis market.
This story was first published by Malawi 24.
