Pwani Oil Shuts Plant Citing US Dollar Shortage In Kenya

News & Politics
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The firm said it failed to pay the suppliers of crude palm oil after banks failed to process its dollar orders. Speaking on Friday, June 3, Pwani Oil Commercial Director Rajul Malde decried banks are only processing half of the dollar orders, making it difficult to purchase raw materials amid stiff global competition.

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He revealed that what they are getting from banks is against the daily limit of $2 to $2.5 million. “At the moment, based on the inflows from banks, we are only able to source between $500,000 and $1 million a day against a requirement of $2- $2.5 million a day. So we are only getting half of what we need, sometimes even less than half,” he said. The CEO added that the dollar shortage makes it difficult for the company to clear shipments, especially after Indonesia tightened its export rules.

2

Well, fuccck them. Another company will replace them.

3

Hii tuliona jana

4

Plant more palm trees must we import everything. They should see it as an opportunity

5

Electrician, sahii ndio umeshuka Kwa ngazi,
Hii tulichambua tukafunga hiyo file

6

Hii stori na kutegemea exports huwa tricky sana. They can invest $100m kwa one large palm tree farm huko Kilifi and they won’t have issues at all.

7

Why do they need them dollars in small daily lots yet they they buy oil and pay in bulk.

8

Shows lack of planning or flexing to justify reason for closing which is suspicious.

If dollars are the problem they can issue a Letter of Credit to ensure the supply chain is not interrupted.

9

This story doesn’t add up. The truth is something else that will be revealed.

10

Palm trees take close to 10 years to grow. So watafunga hadi 2032 ama?

11

Lack of planning aje? Inventory is waste generally

12

Unamaanisha? We are seriously dealing with low IQ individuals in this thread with no idea of how supply chain works

13

There is a reason Indonesia is responsible for 60% of palm oil production in the world. Hiyo kitu sio mahindi

14

Update; wamedai mnunue their products in dollars sasa

15

I am not talking about right away, I said they should "INVEST" Keyword there is INVEST.

16

90% of the global supply inatoka Indonesia na Malaysia I think, few countries grow it. Wee unaona ni wajinga ama? Ama undahani ni kama mahindi unalima tu na kupanda?

17

Bro ni meaning ya “INVEST” haujui ama?

verb
[ol]
[li]1.[/li]put (money) into financial schemes, shares, property, or a commercial venture with the expectation of achieving a profit.
“the company is to invest £12 m in its manufacturing site at Linlithglow”
[/ol]

18

Hivyo ndio mtaendelea kureason mki import hadi toothpicks

19

Do you have an edible oil company ndio ukuje na ujuaji ya pesa mbili hapa? Mtu wa kushinda online 24/7/365 unajua zaidi kushinda veteran wa importation?

20

You expect sycophants deep in the rectum of their masters to reason? No oxygen bana