Ruvuma and Mvomero Shine in Successful Soybeans and Cocoa Auctions

Ruvuma/Mvomero, Tanzania –

A soybean auction in Ruvuma and a thriving cocoa auction in Mvomero, both part of the Southern Agricultural Growth Corridor of Tanzania (SAGCOT), have highlighted the growing success of Tanzanian farmers and the effectiveness of the Warehouse Receipt System.

On June 20, about 451,367 kilograms of soybeans were sold in Ruvuma, fetching prices between TZS 1,310 and TZS 1,430 per kilogram. This achievement reflects the strong demand for quality soybeans. It underscores the value of the Warehouse Receipt System, which leverages the TMX commodity exchange and cooperative unions to provide farmers with greater market access and fairer prices.

Similarly, the Mvomero district in Morogoro witnessed a successful cocoa auction on June 19, where 74,550 kilograms of cocoa were sold at TZS 26,200 per kilogram. This auction, organized by the MOFACU cooperative union and facilitated by the Warehouse Receipt System and TMX exchange, further demonstrates the growing momentum in Tanzania’s agricultural sector.