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September 15, 2011

Zimbabwe stockpiles fertilizer for upcoming cropping season


With less than two months to go before the summer cropping season gets underway, Zimbabwe's fertiliser industry has expressed readiness to meet demand.


Since the beginning of the year, 85 000 tonnes of fertiliser have been sold while stocks in factories are pegged at 100 000 tonnes.


At least 120 000 tonnes more are expected to be produced in the next three months bringing the cumulative total to 305 000 tonnes.


Fertiliser industry spokesperson, Mr. Misheck Kachere said demand is expected to reach 400 000 tonnes which should be met by local suppliers backed by a small amount of imports.


The price of fertiliser will however remained unchanged, selling at around US$30 per bag.


Mr. Kachere said the industry is operating on an expensive US$80 million short term loan sourced from local banks, hence the price of their product.


At least US$5 million secured in the second quarter of this year from the Industrial Development Corporation of South Africa has been channelled towards enhancing phosphate mining at Dorowa, as well as production of sulphuric acid at Zimphos.

ZBC

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