ZIMBABWE’S egg production tumbled by 12% to nine million eggs in the second quarter of 2018 as output by large-scale producers fell, according to a second quarter performance report by the Zimbabwe Poultry Association.
In the report, chairperson Solomon Zawe revealed that the total egg production in the second quarter of the year was nine million dozens, 12% down from the 10,2 million recorded in the same period last year.
Output by large-scale producers dropped 35% to 3,3 million compared to previous period, while small-scale egg production increased by 25%.
“Although large-scale egg production increased to 1,1 million dozens per month, this is 39% down on the same period last year. Total egg production in the second quarter was three million dozens per month,” Zawe said.
Zawe also reported that there had been significant investments into layer production, driven by high egg prices. The wholesale price of table eggs remained firm and averaged $4,50 in the second quarter.
“Supply of table eggs is, therefore, expected to improve towards the end of 2018 as placed layers come into production,” he said.
Zimbabwe’s two major business member groups say price increases witnessed recently across a range of basic goods are largely seasonal but other increases for non-basic goods can be a result of forex shortages.
However, officially opening the First Session of the Ninth Parliament on Tuesday, incorporating the State of the Nation Address, President Mnangagwa said Government had secured $500 million to ameliorate forex shortages for business and individuals in general and was committed to redress fiscal imbalances. Disbursements will start this week.
Poor economic performance, following a decade of downward spiral up to 2008, the impact of sanctions and low foreign investment and exports have resulted in a serious shortage of hard currency while a mismatch between revenue and public expenditures spawned deficits, which Government bridges through Treasury Bills.
Accept bond notes, traders told
Finance and Economic Development Minister Professor Mthuli Ncube has directed all traders to accept bond notes as they remain legal tender in the country.
This comes as some unscrupulous wholesalers and retailers are understood to be rejecting bond notes claiming they would soon be demonetised.
Prof Ncube said it was wrong for traders to reject bond notes when no currency reforms have been instituted.
“People should accept the bond note because as of today (Tuesday) we have not changed the currency. So that is what I strongly recommend until we have come up with a package, which will have a lasting solution to currency issues,” said Prof Ncube while addressing journalists in Harare on Tuesday.
SA restaurant chain to expand footprint in Zim
SOUTH AFRICAN fast-food giant Barcelos will invest $1,5 million and open an additional four outlets in Zimbabwe over the next 12 months, according to an official.
After opening a 100-seat restaurant in Bulawayo on Monday this week at a cost of $250 000, Barcelos — which operates 80 outlets in South Africa — plans to open four more in the country within a year.
The fast-food chain has about 120 outlets globally, with a footprint in Dubai, Saudi Arabia, Botswana, Namibia, Turkey Egypt, Pakistan, India, Maldives, Mauritius, Sudan, Canada, Jordan, Mozambique and Iran.
“The Bulawayo restaurant is one of the five that we are set to roll out in the next 12 months. Harare is the next one, then Victoria Falls, Gweru. We are still tofinlise the other location,” company director Benson Muneri told NewsDay in an interview.