Tanzanian cashew price hike could lead to global shortage, traders say


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NAIROBI (Reuters) - Tanzania's plan to buy the country's entire 2018 cashew nut crop could lead to a global shortage, with processors in Vietnam and India likely to be hit first, traders said.

President John Magufuli has ordered a 94 percent increase to cashew nut prices to protect farmers from low prices and told his government to acquire the estimated 220,000 ton crop after private buyers refused to buy at the higher price.

Tanzanians would eat the nuts themselves if they could not sell them, Magufuli said, raising concerns that the nation's most valuable export crop will not reach global markets.
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Tanzanian cashew price hike could lead to global shortage, traders say

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NAIROBI (Reuters) - Tanzania's plan to buy the country's entire 2018 cashew nut crop could lead to a global shortage, with processors in Vietnam and India likely to be hit first, traders said.

President John Magufuli has ordered a 94 percent increase to cashew nut prices to protect farmers from low prices and told his government to acquire the estimated 220,000 ton crop after private buyers refused to buy at the higher price. Clean Master Adam4adam Mathway

Tanzanians would eat the nuts themselves if they could not sell them, Magufuli said, raising concerns that the nation's most valuable export crop will not reach global markets.
.................................................................................
More details is below link.
Tanzanian cashew price hike could lead to global shortage, traders say

:):):):)
kasema tutanunua kilo mbili mbili.
 

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