The mainstream media of Tanzania “The Citizen” reported on June 23 that Magufuli, the President of Tanzania will preside over and hold a cashew nut investment forum. Hundreds of local and foreign representatives are invited to attend the forum to jointly discuss development opportunity of cashew growing and processing industry.

The report says cashew nut is the main crop followed tea, coffee and sisal hemp. The forum will be held when the Tanzania Government faces market crisis for cashew nuts. In 2018, the cashew nut output is about 240,000t, and the government purchased about 213,000t cashew nuts due to low price of private enterprises; however, the decision of the Tanzania Government directly dropped cashew nut sales volume in international market to USD 196.5Millionlast year, decreasing 63% year on year. However, so far, the Tanzanian Government still owed growers about 100 Billion Shillings (about USD43.5033 Million). About nearly 200,000t cashew nuts have not been sold yet. 

According to the report, as the new cashew nut harvest season is around the corner, Magufuli will preside over the forum in person to solve current cashew nut problems again. Meanwhile, it expresses the intention of Tanzanian Government to improve local processing ability of cashew nuts, and seek take this opportunity to seek for investors, help improve cashew nut outputs, realize value adding through fine processed cashew nut products, provide processing machinery equipment and parts, and absorb investors to station in local cashew nut processing industrial park.