The Tanzania Agricultural Development Bank (TADB) has approved a loan of Tzs 435,500,000/= for the establishment of a small cashew processing factory to increase its value.
The money will come in phases to build factory infrastructure and the second phase to fund cashew farmers inputs that will enable them to produce cashews productively and get a good price in the market.
That is a continuation of TADB’s investment of more than 33 billion that has been released in the production value chain.
Speaking at the launch of the Innovation project in the Cashew Valuation Chain under the Care Tanzania Institute in Mkinga District, held recently in Tanga, TADB Eastern Region Manager, Mr Jeremiah Jeremiah Mhada said the bank has approved the loan where it will be used in the construction of the factory and the purchase of various machinery and equipment to run the factory.
“Cashew processing in the country will help produce other products such as cashew oil by 15 percent which is used as medicine and industrial use which will lead to increase the value of cashew crops in the country,” ___________Mhanda.
The chairman of DUGA Primary Cooperative Association, Mr. Said Hassan Tuwano has commended the investment for providing 45% of the shares in the factory, so more than 200 farmers will be part of the factory and plan to increase the number of farmers to 2,500.
Mkinga District Commissioner, Colonel Maulid Surumbu urged all stakeholders to fulfill their responsibilities to ensure increased cashew production as well as to ensure the factory is completed so that production can begin next harvest season.
Ministry of Agriculture in collaboration with stakeholders has continued its efforts to increase productivity and productivity in strategic crops including cashews to increase both a farmer’s income and the nation as a whole.
These efforts include education on quality cashew farming for farmers, production of quality cashew seedlings, use of inputs, enhanced research activities and distribution of pesticide pipelines, where major Cooperatives supply pipelines to AMCOS all 623 in the country.
As of June 6, 2021 135 pipes have been distributed to AMCOS. For example, Mtwara Region with an average of 23,918,206 seedlings produced increasing to 35 kg per tree per annul, Farmers’ income will increase from the current 279.8 billion to 1.971 trillion per annul.
Tanzania plans to increase the production of cashew nuts from an average of 300,000 tons to one million tons by 2024 where Tanzania will be the first producer of cashew nuts in Africa behind the Ivory Coast leading by seven hundred thousand tons per season.