Plastic products are likely to cost 70% more than their usual prices in Tanzania due to soaring oil prices. High feedstock prices along with depreciated shillings have badly affected the Tanzanian plastics industry.
Companies are now left with two alternatives of either to improve efficiency or close down. The shillings are now trading at 1,140 per dollar as against 1, 032 shillings for a dollar in January this year. The Bank of Tanzania has had to intervene in the foreign exchange market last week by pumping 2.75 million dollars to rescue and strengthen the shillings from further depreciation and to cushion the upsurge in volatile market demands.
06-Sep-05 
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