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In a significant development for Tanzania’s cashew industry, American companies are showing strong interest in purchasing processed cashew nuts from the region. World Holdings International (WHI), a US-based company, recently announced its subsidiary’s commitment to buy cashew kernel products produced in Tanzania. This announcement has set the stage for Tanzanian cashew kernel factories to enhance their processing capacity and standards, as they gear up to meet the demands of the American market.
JF Braun & Sons Company Emerges as a Key Player
CEO Lloyd Ward unveiled the American company set to purchase Tanzanian cashew kernels as JF Braun & Sons. Speaking in Dar es Salaam, Mr. Ward described JF Braun & Sons as a leading supplier of dried fruit and nuts in the US market, with an impressive annual import and sales volume exceeding $1 billion in food products. This newfound partnership between Tanzanian producers and American buyers is poised to boost the Tanzanian cashew industry.
Furthermore, the first shipment of Tanzanian cashew kernels is anticipated to depart from Dar es Salaam to the US by the end of this calendar year, marking the beginning of a promising trade relationship. Mr. Ward also revealed that, all else being equal, JF Braun & Sons is ready to pay about $6.50 per kilogram for processed cashews, which notably exceeds the current global market price of $5.60. This presents a favorable opportunity for Tanzanian cashew farmers to enhance their profitability.
Tanzanian Government’s Vision for Cashew Processing
The Tanzanian government is actively promoting the processing of cashew nuts, with an ambitious plan to significantly boost both raw cashew nut productivity and processing capacity. According to the Tanzania Cashew Board (TCB), the government aims to increase raw cashew nut production from the current average of 300,000 tons per year to an impressive 700,000 tons. Moreover, their vision includes processing 30-50% of the entire cashew crop by 2025/26, a significant leap from the current processing rate of only 10% of the total produce.
This concerted effort by the Tanzanian government aligns well with the interests of American buyers like JF Braun & Sons, who seek to secure a consistent and high-quality supply of cashew kernels. The increased production and processing capacity will not only benefit local farmers by providing new opportunities but will also enable Tanzania to establish a strong presence in the global cashew market.
In conclusion, the commitment of American companies like JF Braun & Sons to purchase Tanzanian cashew kernels is a testament to the growing potential of the Tanzanian cashew industry. This partnership has the potential to boost the local economy, improve the livelihoods of cashew farmers, and position Tanzania as a significant player in the global cashew market. As these developments unfold, all eyes are on the Tanzanian cashew industry as it sets sail on a promising journey toward prosperity.
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