Published: 05 December 2013

Zimbabwe's fertiliser industry says it requires $50 million to sustain operations for the 2013/2014 agricultural season.

The industry is operating at an average of 40 percent capacity utilisation as a result of limited capital to sustain operations, amid fears that it will not meet the target of 300 000 tonnes for the 2013/14 summer cropping season.

Chemplex Corporation Limited CEO, Misheck Kachere, who is also the spokesperson of the fertiliser industry, told the ZBC News that the sector is in talks with local and regional financiers about a $50 million loan facility to increase production.

"Negotiations are in progress and once they are complete we shall give further details," he said.

Kachere said the current adequate stocks of fertiliser in the local markets are due to the liquidity constraints as farmers are experiencing disposable income challenges.

Zimbabwe's fertiliser companies are reeling under production challenges in a development that has resulted in the government considering a revival package to boost productivity for the agricultural sector.
- zbc

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