Fertilizer firms optimistic

Fertilizer firms optimistic
Published: 20 October 2017
The fertiliser industry is optimistic that production will steadily increase following increased foreign currency allocation from the Central Bank, Zimbabwe Fertiliser Manufacturers spokesperson Tapiwa Mashingaidze has said.

The industry, that has at least 120 000 tonnes in stock, said the recently availed $600 million Afreximbank Nostro Stabilisation facility, has seen the apex bank increasing its foreign currency allocation to the industry to boost production.

Mashingaidze revealed that many companies had established plants in the country and were ready to produce.

Demand for fertiliser in the past season was 400 000 tonnes and close to 500 000 tonnes might be needed for the 2017/18 season.

Mashingaidze said there are many players in the fertiliser industry, a scenario that makes it difficult to come up with an accurate number of tonnes demanded in Zimbabwe each season.
- The Herald
Tags: Fertilizer,

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