Cooking oil imports drop 70%

Cooking oil imports drop 70%
Published: 27 February 2018
The volume of cooking oil imports has dropped by more than 70 percent as local producers increase production thereby saving the nation of the much needed foreign currency.

Recapitalisation of the local cooking oil sector has seen capacity increasing although the high costs of production remains a threat to viability.

Figures made available by the Oil Expressers Association of Zimbabwe to the reporters indicate the reduction in imported volumes has seen local producers restoring normal operations.

The association's president Mr Busisa Moyo said foreign currency limitations are however threatening the gains achieved by the sector.

"The need to resuscitate the sector is on course but limitations of foreign currency are a key problem," he said.

The huge import bill being faced by Zimbabwe has to some extent resulted in limited foreign exchange inflows.
- zbc
Tags: Cookingoil,


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