By Alois Vinga
TANGANDA Tea Company Limited has recorded cross cutting export growth in the midst of intensified value addition efforts.
This efforts have been aimed at extracting maximum value from the firm’s products.
The move resonates with the local industrial strategy calling on companies to penetrate export markets and deepen linkages to mobilise foreign currency for internal use.
Presenting performance for the twelve months ended September 30, 2022, Tanganda chairman Herbert Nkala revealed that operations are well aligned to such a vision.
He said Tanganda has so far managed to invest in four key value chains, namely tea, macadamia nuts, avocados and coffee amid hopes that this strategy of diversifying operations has yielded tangible benefits and will continue to be a focus in the coming years.
“Bulk tea exports grew by 11% to 7 125 tonnes from the prior season’s 6 392 tonnes. This was despite tea production volumes of 8 670 tonnes being 6% lower than prior year’s 9 179 tonnes due to the dry weather patches experienced during the agricultural season.
“The average export selling price firmed up slightly to US$1,42 per kg from US$1,39 per kg in the previous year,” he said.
He revealed that Avocado fruit exports also grew by 7% from 4 001 tonnes in the prior season to 4 268 tonnes with the financial year bringing the total hectares under avocado to 497 hectares.
Macadamia nut production of 1 076 tonnes was nearly equal to last season due to dry weather experienced during the season also bringing in export revenue.
Coffee exports of 96 tonnes were 14% above 84 tonnes achieved in the prior year benefitting from average export selling price of US$ 6, 56 per kg which remained slightly firmer than prior year price of US$ 6,50 per kg.
“The company’s decision to invest in new machinery at the packaging factory in Mutare in line with its value addition strategy has resulted in the realisation of factory conversion efficiencies. This investment is expected to increase volumes in both the local and regional market,” added Nkala.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Business News Click Here
