This study was carried out to understand the underlying dynamics of agricultural commercialisation in Malawi, especially among smallholder farmers. Despite various concerted efforts to accelerate agricultural growth and transformation, the progress among smallholder farmers has been less satisfactory. Most of the smallholder farmers do not engage with markets on a consistent and sustainable basis. Consequently, the aim of this paper was to demonstrate that there is no one ideal type of agricultural commercialisation that can be realised through investment and policy intervention.