DRC temporarily bans import of key consumer goods
News24Wire - Aug 29th 2017, 08:49
Authorities have banned imports of several popular consumer products in the west of the Democratic Republic of Congo for six months to fight smuggling, Trade Minister Jean-Lucien Busa said on Monday.
"We have decided on the temporary restriction of imports in the western part of the country for six months of grey cement, sugar, beer and fizzy drinks in order to put an end to fraud and contraband," Busa told AFP.
The measure was also aimed at "protecting local industry in a crucial period of growth that risks being undermined by those who practice prices below production costs", the minister said, stressing that he had not "turned to protectionism".
In the southwest of the huge nation in the heart of Africa, on the border with Angola, a thriving market attracts numerous small traders who purchase their stock at very low prices.
Such people "who pay neither customs duty nor taxes" represent a threat to the national economy, the trade minister said.
A Congolese brewery firm was forced to "close two of its plants in the provinces of Equateur (in the northwest) and Kongo Central (on the southern border with Angola)", Busa said.
Despite the partial ban, the vastly mineral-rich DRC remains "open to international trade", the minister added.
Busa said he also "forbade exports of cinchona tree bark (notably used to provide quinine) so as to give priority in transformation" to the Congolese pharmaceutical industry.
Busa did not specify in which areas of the country the import ban applies, but the capital Kinshasa is located in the western part of the country.© 2017 24.com
Libstar banks on new food products
14/03/2019 - 10:15
Consumer goods manufacturer and distributor Libstar, whose brands include Lancewood cheese and Denny Mushrooms, says it adjusted to the slowdown in consumer spending by launching hundreds of new food products.
Shares in Denny owner Libstar jump on maiden dividend
13/03/2019 - 13:49
Libstar, the consumer goods group that listed on the JSE in May 2018, announced a maiden cash dividend of 22c a share on Wednesday as profits after tax in 2018 edged 1% higher to R236m.
Global tomato juice market - Key findings and insights
18/02/2019 - 13:45
In 2017, the global tomato juice market amounted to 5.7M tonnes, remaining relatively stable as in the previous year. After a moderate decline in the volume of consumption from 2007 to 2009, consumption then regained an upward trend, increasing strongly through to 2013 and then levelling off over the next four years. Overall, the market volume increased at an average annual rate of +1.3% over the period from 2007 to 2017.
Western Cape has high hopes for marijuana market
11/02/2019 - 10:32
The Western Cape believes the medical cannabis market has significant potential to boost the local economy and is moving fast to position itself as the country’s main hub for this new industry.
Bans on some SA meat products relaxed after foot and mouth outbreak in Limpopo
04/02/2019 - 15:10
Restrictions on the export of South African processed meat products have been relaxed by some trade partners who halted imports following the outbreak of foot and mouth disease in Limpopo, the department of Agriculture, Forestry and Fisheries said.