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SOYA bean hactarage has been increased by 11 000 hectares in the 2018 /2019 cropping season from the almost 22 000ha planted in the prior season, as Government battles to stem surging demand for foreign currency.
Government is spending an average of $20 million per month in the importation of soya for the manufacture of cooking oil, prompting the need to ramp up local soya bean growing to preserve the little foreign currency available.
Soya bean is a critical crop with multiple benefits that cut across various sectors of the economy.
It is rich in crude protein, ranging between 35 percent and 45 percent, and contains 20 percent oil. Zimbabwe needs almost about 250 000 tonnes of soya beans annually for food, feed and other industrial needs but output is currently averaging 30 000 tonnes, which is far too short of requirements.
The average cost per ha ranges from $700 to $900. Experts say farmers can get between 3,5 tonnes and 6 tonnes per hectare.
The current price per tonne is $550. Farmers can rake up to $1 100 per hectare.
ALL SHARE
The All Share index closed the week on a lower note losing 5.23 points (3,00 percent) to end at 168.84 points. Old Mutual Limited continues to lose ground as it dropped $0,3973 to close at $6,0083, Delta lost $0,2380 to $3,2502 and SeedCo traded $0,1495 lower at $2,2500.
Econet also lost $0,0725 to $2,1142 and PPC was $0,0467 down at $1,4500.
Losses were offset by gains in SeedCo International which added $0,0900 to $1,6000, Padenga increased by $0,0050 to settle at $0,9150 and Simbisa was $0,0025 higher at $0,8500.
NTS also went up by $0,0004 to $0,0125 and First Mutual Properties (FMP.zw) traded $0,0002 stronger at $0,0702.
derick.khumalo
Online Reporter