Kakuzi will no longer grow pinapples, a fruit which has been its mainstay for decades. Instead, Instead, the agricultural giant plans to fully venture into avocados. In recent years, avocados’ price has been on the rise, the reason why more companies are growing the fruit. The move signals a radical shift for the agricultural firm, which is now increasing acreage for avocados whose demand has skyrocketed globally.
The NSE-listed firm revealed the strategic shift Friday when announcing a 5.2 per cent increase in net profit to Sh561.6 million for the year ended December.
The grower attributed the profit increase to higher international avocado and macadamia prices.
The company, which also grows tea and trees in addition to livestock farming, has now decided to focus its efforts on growing avocados whose returns per acre are higher than pineapples.
