Victoria Foods Doubles Production
Posted by Labels: National Foods, Victoria Foods, Zimbabwe Sugar SalesSource The Herald 27.05.089
Edward Mukaro
Harare — VICTORIA Foods, a subsidiary of agro-industrial based group, CFI Holdings Limited has more than doubled its capacity from 15 percent to 50 percent.
"Capacity utilization has on average increased to 50 percent from a low 15 percent in the prior year," CFI chairman Mr. Simplicious Chihambakwe said in a statement last week.
The 35 percent increase in capacity utilization was largely made possible as a result of the liberalization of grain procurement.
The liberalization of grain procurement, particularly of maize and wheat has been very beneficial to this business," he added.
Popular brands manufactured by Victoria Foods include Victoria Flour, Victoria Rice, maize meal, salt among others and these products are now available in most supermarkets.
Victoria Foods is among a few companies that have been able to raise capacity since liberalization of the economy. Among them are National Foods whose capacity has gone up to levels around 45 percent. The inclusive Government targets to increase factory output to 65 percent by end of this year.
Shortage of raw materials, uneconomic prices stipulated by the Government and the general economic meltdown saw capacity utilization for most companies dropping to levels below 10 percent, resulting in the disappearance of locally produced products.
"Capacity utilization has on average increased to 50 percent from a low 15 percent in the prior year," CFI chairman Mr. Simplicious Chihambakwe said in a statement last week.
The 35 percent increase in capacity utilization was largely made possible as a result of the liberalization of grain procurement.
The liberalization of grain procurement, particularly of maize and wheat has been very beneficial to this business," he added.
Popular brands manufactured by Victoria Foods include Victoria Flour, Victoria Rice, maize meal, salt among others and these products are now available in most supermarkets.
Victoria Foods is among a few companies that have been able to raise capacity since liberalization of the economy. Among them are National Foods whose capacity has gone up to levels around 45 percent. The inclusive Government targets to increase factory output to 65 percent by end of this year.
Shortage of raw materials, uneconomic prices stipulated by the Government and the general economic meltdown saw capacity utilization for most companies dropping to levels below 10 percent, resulting in the disappearance of locally produced products.
Posted by. Takudzwa Kufa
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