Chinese firm to invest US$1.48m in new cashew nut processing plant in Tanzaina

TANZANIA – Yalin International, a Chinese firm, has unveiled plans of investing US$1.48 million (Tshs3.4bn) in setting up a new cashew nut processing plant in Tanzania. According to a report by Ipp Media, the plant will have a capacity of processing 27 metric tons of cashew nuts per day targeting to export the products to…

Vietnamese firm eyes West Africa’s cashew nut market as leading player

WEST AFRICA - T&T Group JSC, a Vietnamese conglomerate has unveiled plans of venturing into West Africa’s cashew nut sector with an aim of consolidating its position as the leading player in the sector ahead of its rivals. According to a report by GhanaWeb, the Hanoi-based firm has unveiled plans of purchasing tonnes of cashew…

Nigerian government to set up cashew processing plants in four States

NIGERIA - The federal government of Nigeria has unveiled plans of setting up cashew processing plants in four states in the country in a bid to add value to the commodity and increase revenues. According to a News Agency of Nigeria report, Audu Ogbeh, the Minister of Agriculture and Rural Development, said the processing plants…

Tanzanian government pays US$225.6m to cashew nut farmers

TANZANIA – The Tanzanian government has so far released US$225.6 million for the purchase of more than 134 000 tonnes of cashew nuts from farmers, reports Daily News. According to Omar Mgumba, Deputy Minister for Agriculture the government paid the money directly to farmers’ accounts through the Cereals and other Produce Board of Tanzania (CPB).…

Kenya’s Indo Power Solutions wins bid to purchase US$180m worth Tanzanian cashew nuts

Tanzania – Kenyan registered firm, Indo Power Solutions Ltd has entered into an agreement with the Tanzanian government to purchase 100,000 tonnes of cashew nuts valued at $180.2 million. This comes a few days after the Tanzanian Government unveiled plans of selling 200,000 tonnes of cashew nuts in its warehouses was therefore seeking bulk international…

Tanzania seeks international market for cashew nuts

TANZANIA – the Tanzanian Government said it is planning to sell 200,000 tonnes of cashew nuts and is therefore seeking international markets for the commodity, reports Daily News. Mr Innocent Bashungwa, Deputy Minister for Agriculture said the government is enganinging in talks with international buyers for the best market. "We [the government] are in talks…

TADB wants cashew nut cooperatives to invest in value addition for better prices

TANZANIA - Tanzania Agricultural Development Bank (TADB) has called on cashew nut cooperatives to invest in the cash crop’s processing for value addition and better market prices, reports Daily News. Cooperatives were encouraged to prepare a business plan that would help in value addition to the crop by building more warehouses and processing factories to…

Tanzania secures coffee, tea and legumes market in China

TANZANIA - Tanzania Trade Development Authority (TTDA) has said that the country has secure d a market for coffee, cashew nuts, ginger, tea, peas, and legumes in China where there is high demand for the commodities. Daily News reports that the development was announced by TTDA Director General, Mr Edwin Rutageruka after the Asian country…

Tanzania to scrap 65% cashew export levy remitted to farmers

TANZANIA - The government of Tanzania has proposed changes to its Cashewnut Industry Act (Cap, 203), scrapping the 65% of the crop export levy remitted to farmers through the Cashewnut Board of Tanzania (CBT). Amendment to the law will see the export levy collected in the consolidated fund, instead of the current situation where some…

EU invests US$2.37m in cashewnut project in Kenya to revive the industry

KENYA - The European Union has launched a US$2.37 million cashewnut and sesame value chain project to revive the ailing industry after the collapse of the sole processor at the Kenyan Coast, Kenya Cashewnuts Factory. Revival of the new factory, now under the management of the Millennium Nuts Company, brings hope for 15,000 farmers in…