Cashew nut board calls for calm, monitors markets trends

CASHEW NUT Board of Tanzania (CBT) has said that it is closely monitoring global cashew nut market trend to inform and provide technical advice to its stakeholders as the trading season kicks off here.

Acting Director General of CBT Mr Alfred Francis said the information would also enable cashew growers in the country to make productive decision when selling their produce in 2022/2023 trading season.

“We are very committed in monitoring the cashew nut marketing trends, informing our stakeholders and farmers for them to make better decisions during the 2022/2023 trading season,” he said.

Mr Francis statement comes five days after farmers rejected prices offered by buyers at the first auctions for 2022/2023 trading season held in Mtwara and Lindi Regions.

The rejected prices ranged between 2,200/- maximum and 1,480/- minimum price per kilogramme. The farmers said the prices do not meet production costs incurred.

However CBT Boss yesterday said the prices came after Vietnam which is Tanzania’s most important exporter market reduced demand for cashew causing a drop in Tanzania’s exports during 2022/2023 main export season.

He named another factor contributing to low prices as increase in production especially in Africa, the move that is leading to expansion of the market.

He said annual production in globe increased to 4.1 million metric tonnes in 2021 from 1.4 in 2010.

In Africa, Mr Francis said the production increased from 900,000 tonnes in 2012 to 2.3 million in 2021.

On the other hand Mr Francis said the government is strictly committed to continue managing the auctions, providing information and technical advices on the trend of cashew market and help farmers and stakeholders make better decisions.

He also said the cashew farmers are free to decide on the prices to sell their produce saying the government will not decide or force any of the farmers to sell their produce on prices rejected by farmers.

Mr Francis said the auctions that were launched on October 21 this will be held on next Friday. He said about 17,000 tonnes of row cashew are expected to be availed at the auctions.

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