Under the leadership of President E.D Mnangagwa, Zimbabwe’s cooking oil production has significantly increased, resulting in a reduced reliance on imports and a greater focus on financing local oil seed production. This development was highlighted during an Oil Expressers meeting held in Harare on July 3, 2024.
The Oil Expressers Association of Zimbabwe revealed that 90 percent of cooking oil on retail shelves is now produced locally. The industry has been on a positive growth trajectory since 2019 due to substantial investments in oil products, leading to near self-sufficiency. This positive outlook indicates that the country’s demand for cooking oil is being met, with oil expressers operating at maximum capacity and making profits, contributing to industry growth and reducing reliance on imports.
The reduction in cooking oil imports has significantly saved foreign currency. The stable economic environment, attributed to President Mnangagwa’s ease of doing business policies, is expected to further boost production and attract more investors. A thriving cooking oil industry can lead to the development of related sectors such as oil seed processing, storage, and logistics, further strengthening the local economy.
The growth in the industry is supported by a surge in soybean production. Soybean output rose from 82,028 tonnes in the 2021/22 season to 93,086 tonnes in the 2022/23 period, with the area dedicated to soybeans increasing from 46,158 hectares to 55,944 hectares in the same timeframe. Soybean imports have declined by 28 percent during this period. The Food Crop Contractors Association (FCCA) also reported a 164 percent increase in soybean production, from 11,609 hectares in the 2020/21 season to 30,692 hectares in the 2023/24 season.
The availability of locally produced cooking oil aligns with the aspirations of the National Development Strategy One (NDS1) for food security, showcasing the strides achieved by President Mnangagwa’s government. By meeting domestic demand through local production, Zimbabwe not only saves foreign currency but also strengthens its economy and enhances food security under the NDS1. #EDWorks
