Categories: Stories

Zimbabwe loses crocodile export market share

Zimbabwe has marginally lost its market share of reptile skin exports after it registered a six percent growth in 2014 against a world average of seven percent, figures obtained from the International Trade Centre (ITC)  have shown.

According to the ITC, a joint agency of the World Trade Organisation and the United Nations,  Zimbabwe, the world’s second largest exporter of crocodile skins exported reptile skins worth $24 million in 2014 becoming a distant second from the United States which exported skins worth $117 million.

The statistics also show that crocodile exports registered an average growth rate of 10 percent between 2010 and 2014 against a world average of 21 percent as the country lost its market share.

However, while the Southern African nation trails the world’s largest economy in terms of value and volumes, Zimbabwe enjoys a comparative advantage of distance to the largest market France. Official statistics show that the average distance of importing countries is 7 869 km compared to 4 908 km of Zimbabwe.

France accounts for nearly a third of the $323 million worth of imported raw reptile skins.

Zimbabwe has the highest niloticus crocodile production accounting for 36 percent of the 250 000 animals bred in Southern Africa from 14 farms.

About five farms account for 83 of the country’s crocodile production.

In 1992, the country had 47 crocodile farms.

This development comes at a time the country’s top crocodile skin exporter Padenga announced that it had reached full capacity and had no immediate plans to increase capacity due to high start-up costs.

In 2012, Padenga acquired a 50 percent stake in Texas-based Lone Star Alligator Farms in a deal that has made it one of the leading foreign currency earning firms in the country.-The Source

(399 VIEWS)

Charles Rukuni

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

Recent Posts

Reserve Bank of Zimbabwe expects more foreign currency sellers to join the interbank market

The gazetting into law of the payment of quarterly taxes on a 50-50 basis in…

December 4, 2024

Zimbabwe 2025 citizens’ budget

Zimbabwe has today unveiled a ZiG276.4 billion budget for 2025 during which it expects the…

November 28, 2024

To go or not to go- Mnangagwa in a quandary

Zimbabwe President Emmerson Mnangagwa has repeatedly stated that he is not going to contest a…

November 25, 2024

ZiG loses steam, falls against US dollar for five consecutive days

The Zimbabwe Gold fell against the United States dollar for five consecutive days from Monday…

November 22, 2024

Indian think tank says Starlink is a wolf in sheep’s clothing

An Indian think tank has described Starlink, a satellite internet service provider which recently entered…

November 18, 2024

ZiG firms against US dollar for 10 days running but people still do not have confidence in the currency

Zimbabwe’s new currency, the Zimbabwe Gold (ZiG), firmed against the United States dollars for 10…

November 16, 2024