Tanganda’s exports increase 14 percent

10

TANGANDA Tea Company says its exports increased to 3 747 tonnes for the six months to March 31, 2022, a 14 percent increase on prior year’s 3 278 tonnes.
In a statement accompanying the group’s financial results, chairman Herbert Nkala said in spite of dry weather in December last year and February this year, the Covid-19 pandemic and global conflict headwinds, revenue remained resilient at $1,9 billion in inflation adjusted terms, a seven percent decline from $2 billion achieved prior year.

“Although bulk tea production for the period of 5 935 tonnes was 12 percent below prior year production of 6 762 tonnes due to dry weather in December 2021 and February 2022, bulk tea exports of 3 747 tonnes were 14 percent above 3 278 tonnes sold in the comparable period of last year. The export average selling price firmed up slightly to US$1,43 per kg from prior year’s average selling price of US$1,41 per kg,” he said.