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Zimbabwe eyes $2bn oil seed exports

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Zimbabwe is eyeing a cumulative figure of $2 billion over the next two years on growing demand of sunflower and other oil producing seeds on the international market.

Demand for sunflower seed on the international market is growing prompting players in the industry to project a massive jump in returns over the next two years.

The Oil Seed Association of Zimbabwe which is mainly driving the sales on the international market is currently inundated with a demand that will earn the country substantial revenue under the projected period.

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This positive sentiment rings good news for the sunflower seed farming as production and hectarage dropped over the last 5 years with farmers opting for other oil producing seeds cotton, groundnuts and soyabeans ahead of sunflower.

The Oil Seed Association of Zimbabwe has been critical in supporting the revitalisation of oil seed farming in the country following a $120 million irrigation facility for oil seeds producers to enhance productivity and provide stability to the oil extraction production chain for the next five years launched last year.

If well implemented, Zimbabwe will soon reduce the current deficit on crude oil and ground nut imports that remain unsustainably high.

Source – ZBC

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