Sugar exports of Zimbabwe plummet 68%

Source: Sugar exports plummet 68% – NewsDay Zimbabwe BY LORRAINE NDEBELE Zimbabwe Stock Exchange-listed sugar producing giant Hippo Valley Estates says total industry exports plummeted during the third quarter ended December 31, 2021 after shipments to Kenya were halted. Kenya, one of Zimbabwe’s key brown sugar export destinations, has scaled up restrictions on cheap imports to protect its industry. Hippo, along other Zimbabwean producers previously enjoyed significantly less restricted access into that market under Common Market for East and Southern Africa (Comesa) regulations. However, Nairobi has been granted safeguards by the pan-African bloc to protect domestic producers from regional peers. The steady growth of Nairobi’s sugar industry in the past two decades, which has seen the establishment of 15 white sugar mills, while several jaggery operators have moved in, has been attributed to the these policies. In a trading update for the review period, Hippo said the Zimbabwe ...