Cashewnut exports up

Cashewnuts accounted for 15.2 per cent of traditional exports last year. The rate was higher than 9.6 per cent the previous year. The Bank of Tanzania’s economic review for last month showed that the crop accounted for eight per cent of traditional exports in 2007.

However, the combined contribution of major traditional exports — coffee, cotton and tobacco — fell to 74.3 per cent in 2009 from 78.3 per cent the previous year.

The report showed that 99,300 tonnes of cashewnuts worth $71.5 million were exported last year compared with 55,000 tonnes worth $40.2 million the previous year. But market analysts say high cost of haulage and poor product packing logistics are among factors hindering the cashew trade.

The price of the crop decreased to $720 per tonne from $730.1 per tonne during the same period. Unit prices of coffee, cotton, sisal and cloves also dropped due to declines in demands as the world was hit by recession. However, prices for tobacco and tea, improved by 23.7 and 14.1 per cent respectively.

The value of traditional exports rose to $470.8 million in 2009 from $418 million in 2008. “This is largely due to an increase in the export volumes of coffee, cotton, cashewnuts and cloves,” the report noted.

Source : The Citizen