Tanzanian private sector, has revealed plans of investing US$1.1 million in the construction of a dam and setting up irrigation system to boost the output of maize and macadamia nuts production.
The irrigation facilities will be utilized to provide water for its 250-hectare farm put under maize and macadamia nuts production.
Farm for the FutureFFF chairman and Project Manager, Mr Osmund Ueland told the media that the environmental impact assessment on the project is under way and construction of the dam is set to commence any time before the year end if everything went well and according to plans.
“We are changing people’s lives through our community development programmes, including demo plots in 16 villages together with our commercial partners.
“With the right investors on-board in the future, we can change the lives of thousands of people,” said Ueland.
The investment, is an opportunity for FFF to demonstrate the importance of efficient water use in farming.
Apart from creating employment opportunities for farmers in Kilolo and Iringa Region, the project also offers a chance for residents to learn how to grow macadamia which attracts premium price sat world markets.
The global macadamia market is growing at a faster pace with the growing importance of healthy eating, and consumers are more frequently choosing nuts as a healthy snack option and incorporating them into their daily diets.
In addition, organic macadamia is also gaining popularity, with increasing demand coming majorly from the European countries. The wide application of processed macadamia in different industrial segments, such as the food and beverage and cosmetics and personal care industries, is also augmenting the growth of these nuts in the global market.
According to Grand View Research, the global macadamia nut market size was valued at US$ 1.17 billion in 2019 and is expected to grow at a compounded annual growth rate (CAGR) of 9.2% from 2020 to 2027.
As farmers fight climate change more conservation methods are on the card to ensure sustainable farming, high productivity and proper management of the environment.