TANZANIA CASHEW NUT EXPORT UP 13PC

Rising demand of cashew nuts in the world market sent good news to Tanzania’s farmers during the past few months, resulting into a 13.1 per cent increase in exports of the products during the year to November 2013, Bank of Tanzania (BoT) figures show.

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BoT’s December 2013 Monthly Economic Review says Tanzania’s cashew nut exports reached $162.4 million (Sh258.2 billion) during the year ending November 2013, up from exports worth $141.1 ( million (Sh225.7 billion) during the year to November 2012.

The Cashew nut Board of Tanzania (CBT) director general, Mr Mfaume Juma told The Citizen on Wednesday that the development was an indication that farmers and dealers had responded positively to rising demand of cashew nuts in the world market.

“The surge in exports is a result of increasing demand for cashew nuts in the world market. Farmers and dealers have responded well,” he said.

With increased demand, prices of raw cashew nuts have also gone up by 21.4 per cent from Sh1,400 to Sh 1,700 per kg between 2012 and 2013, he said. According to him, up to this month at least 80,000 tonnes of cashew nuts have been exported to India and Vietnam. In the last season the country produced 127,000 tonnes.