Cooking oil producers say supply is adequate

Cooking oil producers say supply is adequate
Published: 11 October 2018 (300 Views)
At a time the country is battling cooking oil shortages, oil producers say they have sufficient crude oil to meet demand.

United Refineries, the edible oils producer said it received close to 10 000 metric tonnes of soya beans from the Grain Marketing Board between May 2018 and September 2018 under a government supported price incentive.

"And we also received support from the Reserve Bank of Zimbabwe (RBZ) for the importation of over 5 000 metric tonnes of soya beans and 1 000 metric tonnes of crude oil for the month of October. We are in constant communication with our bankers and the RBZ to ensure adequate supplies of cooking oil to our valued customers," a statement posted on Twitter by the United Refineries chief executive officer Busisa Moyo said.

Surface Wilmar, which produces the Pure Drop brand, in a statement said it had enough capacity to meet national demand for cooking. It also advised that its retailing price of $3,70 for a two-litre bottle had not changed



Surface Wilmar blamed prevailing shortages on speculators bent on profiteering.

United Refineries said it was implementing a Soya Bean Outgrower Alliance (SOBOA) programme supported by various banks and input providers to expand the hectarage under soya for the coming agricultural season.

It has applied to the ministry of Lands, Agriculture, Water and Rural Settlements for 20 000 hectares of land near a viable water source for joint-venture farming as an import substitution measure.

Oil expressers require at least 150 000 tonnes of soya beans per year to substitute the importation of crude soya oil.

Industry experts have noted that the country has never produced enough soya beans. The peak output was 135 000 tonnes in 2000.

Last year, only 30 000 tonnes of soya beans were produced. Government is currently pumping out around $172 million on imports.

"We urge our loyal customers, who have supported the Roil brand over the last eight decades, not to be taken advantage of or to risk their hard-earned money with speculative buying or hoarding as this is likely to result in loss," the statement further stated.

A two-litre pack of the United Refineries' Roil brand, officially retailed at $3,99, is being sold at as much as $10 in the underground market.

- newsday

Tags: Cooking, Oil, Producers,
 0

You May Like These Videos

Comments

There are no comments.

Latest stories

Christianity and the Curse of the Papa Generation

by Robert Sigauke | 16 February 2019 | 95 Views

Tribute to 'Save' the late Dr Morgan Richard Tsvangirai

by Leonard Koni | 16 February 2019 | 82 Views

Zimbabwe shelves plans to join Africa Continental Free Trade Area

by newzimbabwe | 16 February 2019 | 100 Views

Jacob Mudenda caught offside

by Kucaca Phulu | 16 February 2019 | 93 Views

Charles Mungoshi dies

by Staff reporter | 16 February 2019 | 76 Views

Zimbabwe sanctions made in MDC-Alliance

by Staff reporter | 16 February 2019 | 79 Views

Mnangagwa for Mwenezi 'Thank You' rally

by Staff reporter | 16 February 2019 | 73 Views

Foreigners, NGOs outed on demos

by Staff reporter | 16 February 2019 | 77 Views

GNU with Tsvangirai talk is Chamisa's imagination, says Zanu-PF

by Staff reporter | 16 February 2019 | 75 Views

Man for wearing army uniform

by Staff rpeorter | 16 February 2019 | 77 Views

'Dead' protester Kaitano jailed

by Staff reporter | 16 February 2019 | 73 Views

US told to stop lecturing Zimbabwe

by Staff reporter | 16 February 2019 | 66 Views

Swine Fever outbreak hits Zimbabwe

by STaff reporter | 16 February 2019 | 51 Views

'Mnangagwa invite a step in right direction'

by Tendai Mugabe | 16 February 2019 | 72 Views

Magistrate fired

by Staff reporter | 16 February 2019 | 71 Views

MDC councillor still holed up in SA in the wake of army crackdown

by Staff reporter | 16 February 2019 | 75 Views

Man beats up police officers, throws plate of sadza at them

by Staff reporter | 16 February 2019 | 79 Views

BCC ordered to stop mining activities

by Staff reporter | 16 February 2019 | 72 Views

Zifa to bring Warriors games to BF

by Staff reporter | 16 February 2019 | 70 Views

Zanu-PF slams US big brother mentality

by Staff reporter | 16 February 2019 | 73 Views

'Expelled' FOG members take founder to court

by Staff reporter | 16 February 2019 | 42 Views

Granny killer sentenced to death

by Staff reporter | 16 February 2019 | 37 Views

Jonathan Moyo lawsuit crumbles

by Staff reporter | 16 February 2019 | 41 Views

Salad cream intercepted at border

by Staff reporter | 16 February 2019 | 43 Views

Perm sec's wife arrested at Supa's trial

by Staff reporter | 16 February 2019 | 36 Views

MDC Alliance senator for Hwange acquitted

by Staff reporter | 16 February 2019 | 28 Views

Mnangagwa ducks CEO Africa roundtable

by Staff reporter | 16 February 2019 | 32 Views

Beitbridge refuse collection worker crushed by truck

by Staff reporter | 16 February 2019 | 33 Views

Mugabe's top cop sued over $167,000 electricity debt

by Staff reporter | 16 February 2019 | 37 Views

Zimbabwe moots stop and search roadblocks

by Staff reporter | 16 February 2019 | 35 Views

Thomas Mapfumo claims $1,2 million defamation damages

by Staff reporter | 16 February 2019 | 45 Views

Research key to economic development: Mnangagwa

by Staff reporter | 16 February 2019 | 32 Views

Lightning strikes family, kills mother

by Staff reporter | 16 February 2019 | 37 Views

Mnangagwa sued over NPRC lifespan

by Staff reporter | 16 February 2019 | 35 Views

Chamisa 'the chosen one' ring-fences presidency

by STaff reporter | 16 February 2019 | 34 Views