Tanzania Cashew Nut Exports Increase By 73% In February 2015

According to the Bank of Tanzania (BOT) latest Monthly Economic Review for March 2015 the export value of cashew nuts increased by 73% to USD 267.2 million in the year ending February 2015 compared to USD 154 million recorded in the corresponding period a year earlier.

In terms of volumes the cashew nut exports increased to 1.9 million tonnes from 1.45 million tonnes from the last year, with a 31% growth.

The growth was due to increase in export price and improved harvest following good weather and timely utilization of pesticides, BOT report indicates.

According to Cashewnut Board of Tanzania (CBT) Director General Mfaume Juma, such amount has never been recorded since Tanzana began producing the said cash crop.

Cahew nut also confirmed its position as Tanzania second leading crop export, after Tobacco and before coffee, cotton, tea, cloves and sisal.

Tanzania value of total exports of goods and services amounted to USD 8,995.3 million in the year ending February 2015 compared with USD 8,499.6 million recorded in the corresponding period in 2014.