Padenga’s Avocado plan makes headway

13

LISTED crocodile skin producer, Padenga Holdings (Padenga), says it has completed a feasibility study into diversifying its operations to include Avocado and Macadamia farming, as it seeks to widen income streams.
In a commentary to financial results for the year ended December 31, 2019, the firm said production was likely to commence next year.
“The investigation and feasibility study into plantation and cropping (Avocado and Macadamia) has been successfully completed and the project has now advanced towards identifying suitable locations that fulfill the multiple variables relevant to successful production,” the company said.

“Given the lengthy period before commercially viable crop yields are produced, attention is being given to additional shorter season/cycle export crops that will provide positive liquidity and profits during the developmental phase of the plantations. The objective is to commence operations in early 2021”.