Agriculture Business Ideas Economy

International Labour Organisation advises Malawi to value add to Groundnuts and Soya beans

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Via Mana Online here

It’s a topic on which many have written much on (On this blog alone here and somewhat to a lesser extent here). And it all boils down to a simple concept:

In order to increase the actual value of your commodity / service over the cost price or production price – you must improve or enhance it, or tie it to another product / service – to the benefit of your customer(s).

But why should you increase the value of your products? Because doing so means that you can receive greater revenues from the sale of the products, and in the case of a predominantly agricultural economy such as Malawi that additional revenue means more funds available for poverty alleviation, wealth creation and social initiatives.

A slide that demonstrates value addition is most appropriate:

What is Value Added Products  which also has slides on similar topics such as advantages of high value products for a firm

By the way, the ‘Decent Work Food Security’ being referred to on the article on Malawi News Agency is the programme outlined in this report.

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