Padenga Holdings To Develop Local Markets For Crocodile Meat

Padenga Holdings To Develop Local Markets For Crocodile Meat

Crocodile farmer Padenga Holdings Limited is now looking at local merchandise for crocodile meat with overseas markets remaining subdued due to lockdowns according to group chairman T.N Sibanda in the Trading Update for the Third Quarter.

Trade around the world has been affected by lockdowns to control the spread of COVID-19.

“Demand for crocodile meat in Europe remained subdued despite restaurants opening towards the end of the second quarter,” Sibanda says. “At the end of Q3 European export stocks amounted to 68.1 tons.”

“Initiatives are in place to develop the local market to absorb this product until the international export market returns.”

The lockdowns also affected Padenga’s crocodile skin sales.

Sibanda says, ” In the Zimbabwe operation, skin sales volumes were down 42% compared to prior period (8,286 skins vs 14,321 skins) as a result of the lockdowns.”

“By the end of Q3 22,796 crocodiles had been harvested and the skins were awaiting sales grading to be convened when international travel resumed.”

“Covid related disruptions impacted the sales of crodile and alligator skins with no meaningful turnover being recorded since April, 2020.”

Padenga’s next sales grading is scheduled for early December this year.

“After the lifing of the travel restrictions in October, a total of 18,629 skins were graded and invoiced,” Sibanda says.

“Of those 6,260 skins were shipped in October and the remainder are to be shipped in November.”

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