A local agricultural firm has embarked on a drive to bankroll farmers for the production of castor seed, a move aimed at boosting the country’s economy.

Castor oil which is extracted from castor beans has high economic value, hence the initiative to fund castor seed production by Life Brand Agric Services.

Castor oil is one of the most versatile of all oil types for industrial purposes.

The market segment for the oil ranges from food and beverage, personal care, pharmaceuticals, lubricant and fuel among others.

The country has ample production capacity of castor seed an initiative which can reduce the import bill if farmers are equipped with requisite knowledge and financial support said chief operations officer Life Brand Agric Services, Mr Israel Kembo.

The project is targeting to cover 150 000 hectares of land in the county’s 10 provinces.

Production of castor beans has approximately increased by 50 percent in the last 25 years and India stands as the major producer of castor oil.