Tanzania is seeking investors in cashew nut processing with the aim to increase local consumption and reduce exports.
The search for processors comes when the government is holding a huge stock of cashew nuts estimated at 200,000 tonnes it bought from farmers in November last year after it failed to secure foreign buyers.
The country believes that local processing will help secure a ready market for the nuts.
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To this end Tanzania Investment Centre has organised a forum next month to attract domestic and international investors in the cashew nut sector, which has an average growth of 450 per cent annually.
The country is one of the world’s largest producers of raw cashew nuts with a total production of 313,826 tonnes in 2017 and 2018 .
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