Dairibord’s forex sales peak in July

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DAIRIBORD Holdings (Dairibord) says volumes sold in foreign currency peaked at 92 percent in July 2023, a trend that is expected to persist into the future as Zim dollar liquidity remains constrained.

Of late, the market has seen elevated demand for foreign currency coupled with a sudden decline in demand for local currency.
The dairy processor said 64 percent of the volumes sold during the half year ended June 30, 2023 were in foreign currency, a significant improvement from the 39 percent recorded in the comparative period, highlighting the improving foreign currency generation ability of the business.
The company’s board chairman, Josphat Sachikonye, said penetration into regional markets is gaining momentum, with pilot projects in selected markets already underway.