No local cooking oil (23-11-06)

HARARE - Olivine Industries is to stop local production of all vegetable oils owing to a critical shortage of raw materials, it was learnt this week.
A company spokesman was not available for comment, but industry sources said Olivine had stopped production of cooking oil due to a critical shorta

ge of soya bean and cottonseed.
“Key raw materials are not available and we are faced with an acute forex shortage so we have decided to cease production until the supply of raw materials improves. We cannot import 50 percent of our raw materials,” said a top company official who declined to be named because he is not authorized to speak to the press.
Industry executives said the government’s decision not to assist the private sector with soya bean and cottonseed imports, forcing manufacturers to resort to the parallel market, would continually force prices up.
The shortage has resulted in imports from China and Mozambique flooding the market. – Own correspondent

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