Cashew Sales Generate Tzs 461.8 Billion

Mtwara, Tanzania – A total of 208,000 metric tons of raw cashew nuts have been sold, raking in an impressive Tzs 461.8 billion for the 2023/2024 season.

These cashew nuts were auctioned at prices ranging from below Tzs 1,500 to a high of Tzs 2,190 in the 30 auctions that have taken place during the 2023/2024 season.

This report was provided by the Cashewnut Board of Tanzania (CBT) during a working session organized to discuss the trends in the sale of raw cashew nuts in the 2023/2024 season.

“As of November 26, 2023, a total of 30 auctions have been conducted, and 208,232,312 metric tons of raw cashew nuts have been sold, compared to 97,930 tons sold during the same period in the 2022/2023 season,” the report stated.

Presenting the report during the meeting in Mtwara, the Director of Marketing and Quality Control at CBT, Revelian Ngaiza, noted that this season’s production has been significantly higher compared to the previous year.

He also highlighted the good quality of the cashew nuts sold at these auctions, with 99.83% falling under the first-grade category and 0.17% classified as second-grade.

However, the report pointed out a major challenge related to the moisture content, which has affected the overall quality and prices of the cashew nuts.

The surge in cashew nut sales and revenue is a promising sign for Tanzania’s cashew industry, and stakeholders are optimistic about the continued growth of the sector. Addressing the moisture content issue will be crucial to maintain and improve the quality of the product, ensuring higher prices and greater revenue for farmers and the nation as a whole.