Tanganda Tea Company Thrives with Avocado Exports.
Tanganda Tea Company's move into avocados is paying off. The company started growing avocados around 2016. It began exporting them in 2018.
Tanganda's avocado exports have soared as its trees have matured. In 2018, it exported about 1,300 tons, and last year, it exported nearly 4,000 tons. Higher global avocado prices have also boosted earnings.
In 2024, Tanganda harvested 3,976 tons of avocados, 84 percent more than the prior year. Exports jumped 40 percent.
Avocado prices also rose sharply, from 44 cents per kilogram in 2023 to 75 cents in 2024.
The higher production and prices helped Tanganda turn a profit. It made $1.4 million last year. The year before, it lost $3.1 million.
Avocados have become a popular health food. They are rich in healthy fats, fiber, vitamins, and minerals, which provide various health benefits.
Tanganda processes avocados that it does not export. It makes them into oil and sells it locally.
The company's total revenue rose 9 percent to $25.7 million in 2024. Its macadamia nuts business also grew significantly. However, it faced some challenges with exports and prices.
Tanganda is investing in adding value to its products. It wants to reduce risks from price swings.
The company's tea business had mixed results. Local sales fell, but exports jumped 41 percent.
Tanganda has installed solar power at three of its five estates, which has helped it cope with power outages. It may sell excess electricity to the national grid.
The company used $20 million from selling a hotel to invest in farming. It is focused on sustainable growth and diversifying its business.
Tanganda Tea Company's move into avocados is paying off. The company started growing avocados around 2016. It began exporting them in 2018.
Tanganda's avocado exports have soared as its trees have matured. In 2018, it exported about 1,300 tons, and last year, it exported nearly 4,000 tons. Higher global avocado prices have also boosted earnings.
In 2024, Tanganda harvested 3,976 tons of avocados, 84 percent more than the prior year. Exports jumped 40 percent.
Avocado prices also rose sharply, from 44 cents per kilogram in 2023 to 75 cents in 2024.
The higher production and prices helped Tanganda turn a profit. It made $1.4 million last year. The year before, it lost $3.1 million.
Avocados have become a popular health food. They are rich in healthy fats, fiber, vitamins, and minerals, which provide various health benefits.
Tanganda processes avocados that it does not export. It makes them into oil and sells it locally.
The company's total revenue rose 9 percent to $25.7 million in 2024. Its macadamia nuts business also grew significantly. However, it faced some challenges with exports and prices.
Tanganda is investing in adding value to its products. It wants to reduce risks from price swings.
The company's tea business had mixed results. Local sales fell, but exports jumped 41 percent.
Tanganda has installed solar power at three of its five estates, which has helped it cope with power outages. It may sell excess electricity to the national grid.
The company used $20 million from selling a hotel to invest in farming. It is focused on sustainable growth and diversifying its business.
