24 January 2018
   
Zim family finally leave Bangkok airport
Government orders fuel price cut
5 weeks for ministers to declare assets
Mnangagwa Mugabe Part II, critics say
12th G40 member booted out of Zanu PF
Mohadi says VP post zenith of his career
EU throws weight behind ED government
Zanu PF official says Moyo used Juju
MORE NEWS
Millers rescue NRZ, procure 200 wagons
Diamond: $20m for land reclamation
MORE BUSINESS
Mukanya to perform in Harare on April 28
SA: Jazz legend Hugh Masekela dies
MORE SHOWBIZ
Bangladesh wallop sorry Zimbabwe
PSL says 2018 season starts March 10
MORE SPORTS
Mnangagwa’s ‘New’ Zim merits support
Zhuwao: kleptocracy and EDiots in Davos
MORE OPINION
 
Sadc peace hinges on leaders' gains & loses
Mnangagwa off to Davos empty handed
MORE COLUMNISTS
 
 
United Refineries eyes export revival after ‘good’ half year
24/08/2015 00:00:00
by The Source
 
Reason to smile ... Chief executive Busisa Moyo
 
RELATED STORIES

AGRO processing concern United Refineries says it will attempt to revive exports after making inroads into the local market, aided by government’s imposition of punitive levies on cooking oil imports.

Government recently removed the travellers rebate on grocery items, saying there was no justification for their continued import since the local industry was producing such goods.

For cooking oil, it raised customs duty to 40 percent and a 25 percent Surtax or $0,50 per litre, whichever is higher.

United Refineries is on a recovery path after securing credit last year to refurbish machinery at its Bulawayo factory and reviving production of several brands.

Chief executive officer, Busisa Moyo told The Source that business in the first half of the year ‘was good’ and that the company had been “able to do significant things, especially in the southern part of the country, that is, Matabeleland, Masvingo and Midlands provinces.”

“That’s where we are strongest but we are now going beyond that. Last week we have been getting messages from Chipinge and people are now getting our products there. We are a countrywide company as we have been always,” Moyo said.

“We were also exporting and we want to go back there. Our soap (wrappers) are in English and Portuguese because we are aiming at Mozambique, Botswana, Zambia and further afield, the Democratic Republic of Congo.

“All those were the markets that we supplied before.”

United Refineries is the second largest cooking oil refinery in Zimbabwe and has a refining capacity of 8,000 metric tonnes of oil seeds per month.

Some of the product lines back in production since last year include the cooking oil lines as well as toiletries such as Bath & Basin, Vogue, Image and Fresh Health Joy.

Recently Moyo, who is also Confederation of Zimbabwean Industries president, told The Source that Zimbabwe’s cooking oil producers would be able to meet the country’s demand for edible oils by September as capacity utilisation in the sector was improving after government imposed punitive levies on imports.

The country which has a monthly requirement of 11,500 metric tonnes of cooking oil has previously relied on cheaper imports mainly from neighbouring South Africa.

Moyo said cooking oil production locally currently stands at 10,500 metric tonnes a month and would surpass local demand by September.



Advertisement

Imports of cooking oil have over the past years contributed heavily to the country’s bill, with $41 million worth of edible oils being imported in 2014.

About $19 million was spent between January and June.

Zimbabwe has four oil producing firms — ETG Parrogate, Surface Investments, Olivine and United Refineries.


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark

 
 
 
comments powered by Disqus
 
RSS NewsTicker