Kakuzi Plc will commission a macadamia oil extraction plant to meet the growing demand for value-added products within its superfood portfolio.
Kakuzi Chairman Nick Ng’ang’a said that domestic sales of value-added macadamia products will help mitigate challenges in the international arena due to a prevailing macadamia glut in the global market.
During the firm’s 95th Annual General Meeting, he said that the superfood grower actively focuses on enhanced revenue generation from diversified local and export markets.
“We believe that the diversity of products, markets and routes to market are essential elements of Kakuzi’s business strategy. Having the combination of avocados, macadamias and hopefully blueberry as export crops to America, Japan, Europe, China, the Middle East and the UK, as well as a strong domestic value addition range,” he said.
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Further, he said that the agricultural firm believes it will minimise risk and maximise returns in these difficult international market conditions through the plant.
Kakuzi Managing Director(MD) Chris Flowers said the firm is reviewing and refining the final investment decision for the firm’s blueberry venture.
He noted that Kakuzi has the potential to develop up to 200 hectares of blueberry production, which can generate an additional Kes5 billion in turnover per annum for the company.
“This is an exciting opportunity that the Board is appraising keenly as it is a major undertaking with an estimated investment cost of around Kes4 Billion,’ Flowers said.
“In addition, the Kakuzi Farmers Market will also provide a retail opportunity for a section of the local smallholder farmers as we plan to provide an opportunity for them also to sell their produce and wares to the captive market on this new road that traverses through Muranga, Kirinyaga and Nyeri counties.”
In the last five years, Kakuzi has increased by 24 per cent the areas under avocado production from 798 ha to 987 hectares.
