Harare – One of Zimbabwe’s top cooking oil manufacturer, Olivine Industries is currently operating well below 15% capacity utilisation hampered by a combination of foreign currency shortages, power cuts and inadequate supply of soyabean from farmers.
Earlier in January, the company which also manufacturers soap and margarine, shut down operations for lack of raw materials and failure to service an outstanding $11 million debt in the face of crunch cash and foreign currency shortages.
Speaking to journalists on the side lines of a plant tour held in Chitungwiza on Tuesday, Olivine Industries chief executive officer Sylvester Mangani said this season the company has received just over 10 000 tonnes of soyabean from the farmers, against a total crop of 35 000 to 40 000 tonnes.
“We expect to be producing anything like 8 000 tonnes of cooking oil per month and right now our production is 1 500 tonnes, so we’re well off the market,” he said.
Olivine Industries manufactures Buttercup margarine, Olivine cooking oil, Olivine and Green Valley beans, Jade toilet soap and Perfection, Dolphin and Big Ben laundry soap.
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