By Abdul Rahman Bangura–
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- Bio-technology firm, Oil Castor, says it has paid over US$1 million to castor bean farmers this year alone.
Alvaro Arellano – co-founder of the Bio-technology firm, noted, “the firm runs a programme where rural castor bean farmers buy engineered seed and upon harvesting their crop, Oil Castor buys back the produce.”
He asserted, Zimbabwe generates intermediate value of castor bean and the best quality was coming from Karoi, Mashonaland West Province.
“We have managed to pay over a million dollars and when we started this year. We were at about $550, 000 in payments to farmers,” he announced.
Arellano meant that, he is pleased that the corporation had accomplished what they were intending for.
“We had hoped to spend between $1 million and $1.2 million paying the farmers this year and we are glad we have managed to.
“The best quality is coming from Karoi. Very hot and humid areas do well. However, other areas like Marondera and Gweru are producing acceptable quality beans,” he announced.
In 2020, Oil Castor reimbursed Castor Bean producers about $500, 000 against a mark of $700, 000. The target was misplaced due to the unfavorable consequences of the Novel Coronavirus Virus (COVID-19) pandemic. The company has in latter years been enabling local growers to enterprise into castor bean production under its engineered seed enterprise.
The corporation utilizes castor bean to produce motor oil or hydraulic oil, bio-diesel and a wide range of products such as cosmetic oils and soaps, which it exports around the globe. The crop has also been spotted as a ready jatropha alternative in producing biodiesel. It is wished that, if more agriculturist attempt into castor bean production, this would be a beneficial solution to Zimbabwe’s fuel situation. Study has verified that, castor oil biodiesel has a very l cloud and pour points, which renders it the best substitute in winter conditions.
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent
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