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Agriculture Reporter
THE Zimbabwe Stock Exchange (ZSE) listed milk processing giant Dairibord has recorded a 118 percent growth in export sales volumes for the period ended 30 September 2022, as the group pushes to expand its global market share.
In a statement the company’s acting secretary Mr Maurice Karimupfumbi said that the group’s export sales volumes for the quarter grew 118 percent compared to the same period last year and 101 percent for the cumulative period.
“Focus on export market development was evident as regional markets responded positively in the quarter,” added Mr Karimupfumbi.
Consequently, the company’s exports accounted for 11 percent of total sales in the quarter compared to five percent in the prior period and nine percent for the cumulative period.
Despite liquid milk sales volumes declining by 13 percent on account of raw milk supply challenges, Dairibord remains the processor with the highest raw milk intake and widest milk intake base in the country.
The company secretary highlighted that raw milk utilised for the period at 19,8m litres, was three percent lower than the prior period and accounted for 32, 9 percent of the intake received by processors.
The company’s ‘More than just milk’ mantra continues to bear fruit, as the milk giant diversifies its operations towards vertical integration to benefit from the whole value chain.
“The cumulative sales volumes for the nine months were five percent above the previous period with Foods and Beverages growing 21 and 12 percent respectively,” said Mr Karimupfumbi.
The group experienced a sales volumes decline for the recorded period owing to changes in the operation environment.
“Sales volumes for the recorded period contracted seven percent compared to the same period last year. Performance was affected by the changes in the operating environment that reduced sales volumes in July and August,” further explained Mr Karimupfumbi.
Additionally, the company has continued to invest in processing capacity to close the current supply gap and to take advantage of opportunities arising from national economic growth, driven by agriculture.
Mr Karimupfumbi said: “We target to achieve above average top-line growth, driven by an increased focus on domestic and export markets, improved product availability and an optimised route to market.”
The dairy sector has significantly contributed to agriculture transformation, which is critical for economic development and growth of the country’s agro-based economy.
The Government has therefore lined up programmes such as the Presidential Silage Input Scheme and the National Enhanced Agriculture Productivity Scheme to assist farmers with feed to grow and develop the dairy sector through smallholder, medium and large-scale capacitation.
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