In the news...

January 25th, 2018 /

The fertiliser industry has pledged adequate supplies of the commodity during 2018/ 19 farming season after suppliers of raw materials agreed to re-open lines of credit for the sector.

Fertiliser companies have had their raw materials withheld in bonded houses in the country and at the ports as suppliers demanded full payments before releasing raw materials. This was largely due to foreign currency shortages.

However, as a result of uncertainty that existed during the old dispensation, the suppliers insisted on releasing the raw materials upon payment, resulting in the sector failing to satisfy the local market as the Reserve Bank of Zimbabwe struggled meet foreign currency demand.

Fertiliser Manufactures Association spokesperson Tapiwa Mashingaidze told The Herald Business that while the sector faced a plethora of challenges including acquiring foreign currency from the central bank and recent dry spell that resulted in subdued demand, preparations for the next season were underway. Read more