Tanganda defends turf, as Peru swamps markets

ZIMBABWE’S biggest tea producer, Tanganda Tea Company, says it tapped into a thinner global avocado market during the year to September 30, 2022, after Peruvian farmers swamped the markets on higher production.

The Zimbabwe Stock Exchange-listed Tanganda yesterday said that avocado prices tumbled 7% during the period, but it fended off the storms, pushing volumes up following an expansion programme.

Company chairperson Herbert Nkala, who presented the firm’s first financial statements since listing in February, said COVID-19 pandemic volatilities were still haunting European markets during the period, hitting at the hospitality industry’s capacity to absorb avocados.

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