Supermarkets to be blacklisted over cooking oil

Supermarkets to be blacklisted over cooking oil
Published: 05 November 2018 (1095 Views)
The Chief Executive Officer of United Refineries Busisa Moyo has revealed that they will be blacklisting retailers who are buying cooking oil in bulk from them and hoarding it instead of selling it to the public thereby creating artificial shortage of the liquid in Bulawayo.

Said Moyo, "United Refineries Limited  sold and delivered over 300mt (150,000 units) of cooking oil  last week into the Bulawayo and surrounding markets. We are concerned that the product is being withheld or bundled at till point. We will be blacklisting errant retailers for the next round of deliveries."

Moyo's statement were welcomed by the Ministry of Information, Publicity and Broadcasting who described the move as productive.

"This behaviour of causing artificial shortages by errant retailers is counterproductive and regressive. The productive move by United Refineries Limited is great. No to economic saboteurs." The Ministry said in a statement.

This comes as Zimbabwe is experiencing inadequate supplies of cooking oil and price hikes because of inadequate foreign currency allocations to the oil industry by the Reserve Bank of Zimbabwe (RBZ).

According to the Oil Expressers Association of Zimbabwe (OEAZ) — a cooking oil industry lobby group which is made up of seven members that supply at least 95 percent of the edible oils consumed in Zimbabwe — its members require at least $5 million per week or $20 million per month to import soya beans, crude edible oils and other raw materials to satisfy the requirements for national oil demand and related products adequately.

OEAZ members have been receiving $2,2 million per week or $8,8 million per month, a 66 percent deficit on the national demand.





- Byo24News

 0

You May Like These Videos

Comments

There are no comments.

Latest stories

MDC resolves to dialogue with Mnangagwa

by Mandla Ndlovu | 20 February 2019 | 56 Views

RTGS is the electronic version of the bond note

by Colls Ndlovu | 20 February 2019 | 40 Views

The current monetary policy review will worsen current fiscal imbalances

by Tinashe Eric Muzamhindo | 20 February 2019 | 63 Views

Mnangagwa, Chiwenga are scaring investors away

by Frazer Muzondo | 20 February 2019 | 47 Views

Umuntu Movement Zimbabwe's donated parcel detained by Zimra

by Enos Denhere | 20 February 2019 | 58 Views

THI, Zimnat announce underwriting management agency agreement

by Staff writer | 20 February 2019 | 68 Views

Chiwenga unable to speak and has not eaten for a week

by ZimLive | 20 February 2019 | 153 Views

EXCLUSIVE: 'Rainbow hotel lied about Bulwayo's capacity'

by Mandla Ndlovu | 20 February 2019 | 74 Views

Zimbabwe introduces the RTGS Dollar currency

by Ndou Paul | 20 February 2019 | 145 Views

Bulilima legislator thanks ZINWA surveyors for Mabhongane Dam visit

by Titshabona Ncube | 20 February 2019 | 53 Views

Zimbabwe army vows 'snap search for its uniforms'

by newzimbabwe | 20 February 2019 | 63 Views

Is Zimbabwe nostalgic for Robert Mugabe?

by AFP | 20 February 2019 | 83 Views

Lest you invite bad omens

by Thomas Murisa | 20 February 2019 | 48 Views

LIVE- All eye on Mangudya #MonetaryPolicyStatement speech

by Staff reporter | 20 February 2019 | 182 Views

Chamisa is giving the Zanu-PF regime sleepless nights

by Staff reporter | 20 February 2019 | 99 Views

Bushiri responds to sexual abuse allegations

by Mandla Ndlovu | 20 February 2019 | 88 Views

Zimbabwe Monetary policy highlights - RTGs now a currency

by Staff reporter | 20 February 2019 | 152 Views

'Mnangagwa is a dog' trial stalls

by Staff reporter | 20 February 2019 | 92 Views

MDC Alliance, Mnangagwa lawyers trade barbs

by Staff reporter | 20 February 2019 | 70 Views

Ex-army boss evicts 300 families

by Staff reporter | 20 February 2019 | 83 Views

Beitbridge border expansion commences

by Staff reporter | 20 February 2019 | 62 Views

Court stops Immigration Department hearings

by Staff reporter | 20 February 2019 | 57 Views

New currency announced

by Mandla Ndlovu | 20 February 2019 | 113 Views

Missing woman found dead

by Staff reporter | 20 February 2019 | 73 Views

Couple escapes jail for stocktheft

by Staff reporter | 20 February 2019 | 47 Views

'Support Zanu-PF, Mnangagwa for peace'

by Staff reporter | 20 February 2019 | 53 Views

Mugabe son in-law trial continues

by Staff reporter | 20 February 2019 | 45 Views

Cops charged with assault

by Staff reporter | 20 February 2019 | 47 Views

Mnangagwa launches India-Africa Incubation Centre

by Staff reporter | 20 February 2019 | 81 Views

How to Choose the Best Forex Broker for Beginners

by Staff Reporter | 20 February 2019 | 85 Views

Mnangagwa avails $30m for Matabeleland South roads

by Staff reporter | 20 February 2019 | 71 Views

Zimbabwe set to modernise 6,000 schools

by Staff reporter | 20 February 2019 | 71 Views

When 45 Degrees falls to Zero, Freedom is nigh!

by Multiverse Dungani | 20 February 2019 | 95 Views

Looting cases clog Bulawayo courts

by Staff reporter | 20 February 2019 | 60 Views

High Court to rule on Parirenyatwa request

by Staff reporter | 20 February 2019 | 66 Views

Mnangagwa gets fresh chance from EU

by Staff reporter | 20 February 2019 | 72 Views

LIVE- Monetary policy statement presentation

by Staff reporter | 20 February 2019 | 133 Views

WATCH: Jonathan Moyo's farm collapses

by Mandla Ndlovu | 20 February 2019 | 117 Views