By George Mwangi
Special to Dow Jones Newswires
Tanzania's cashew nuts export volume rose 71% in the first quarter of the current marketing year beginning October, the country's agriculture ministry said Thursday.
Export volumes rose to 241,478 metric tons in the October through December quarter from 141,000 tons in the same prior year period, the ministry said in a market report. The ministry didn't give a reason for the sharp increase.
In the first quarter of the current marketing year, cashews were sold for export at a maximum price of 2,495 Tanzania shillings a kilogram ($0.99) and a minimum price of TZS1,445 a kilogram.
In the marketing year through September 2023, production is estimated at 400,000 tons, up 69% from 236,000 tons the prior year, mainly due to the government providing free inputs to farmers such as sulphur dust, according to the country's cashew board chairman, Aloyce Mwangile.
Production is expected at 700,000 metric tons by the 2025-26 marketing year, Mwangile said.
Tanzania is one of the largest producers and exporters of raw cashew nuts in Africa, and cashew is the country's leading cash crop, according to the board.
Tanzania exports raw cashew nuts mainly to Vietnam and India.
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(END) Dow Jones Newswires
01-11-24 1115ET
