Andrew
Online Reporter
LISTED agro-processor, Tanganda Tea Company has seen an improvement in the exports of its various agricultural products, for the year to September 30, 2022.
Tanganda’s various units produce, tea, avocadoes, coffee and macadamia nuts.
For the year under review, management reported that tea exports surged to 7 125 tonnes, compared to the 6 392 tonnes realised in 2021, translating to a 11 percent growth.
For the tea segment, the growth in exports was met by favorable export selling price, which firmed to US$1, 42 per kg from US$1,39 per kg last year.
The growth in tea exports was recorded albeit a decline in overall tea production as yield declined by 6 percent to 8 670 tonnes from 9 179 tonnes, which was attributable to dry weather patches experienced during the 2021-2022 summer cropping season.
Avocado exports also saw a 7 percent growth to 4 268 tonnes in the period under review, from 4 001 tonnes in the prior comparable period.
Unlike with the case of tea exports, avocado prices retreated 38 percent to US$0,44 cents per kg down from US$0,77 cents.
Coffee exports improved by 14 percent to close the year 96 tonnes, ahead of the 84 tonnes recorded in 2021.
Tanganda’s macadamia production remained flat at 1076 tonnes, attributable to unfavorable weather patterns mainly dry patches experienced during the season.
Said board chairperson, Mr Herbert Nkala:
“As the world moves out of the pandemic, we expect that both export volumes and selling prices will firm up.
“49 additional hectares (prior year – 43 hectares) of the avocado plantation were established during the financial year bringing the total hectares under avocado to 497 hectares.”
Online Reporter