Dua
JF-Expert Member
- Nov 14, 2006
- 3,229
- 662
WORLD LARGEST DEAL IN CASHEW NUT TRADING HISTORY
''T&T Group officially signed a contract to buy 176,000 tons of Tanzanian raw cashew in the 2018 season with representatives of the Tanzanian Government. This is the largest crude cashew purchase contract in the history of the world cashew industry ever since. On July 30, 2019 in Tanzania, witnessed by many senior officials in the Tanzanian Government, representing the Group. T&T Group officially signed a contract to buy 176,000 tons of Tanzanian raw cashew in the 2018 season with representatives of the Tanzanian Government. This is the largest raw cashew purchase contract in the history of the world cashew industry ever.
This contract to purchase seeds is signed between T&T Group and Tanzania’s Grain and Other Products Association (CPB). Accordingly, T&T Group has agreed to buy 176,000 tons of raw cashew in 2018 season in a total of 210,000 tons of raw cashew that the Tanzania Government has bought reserves from farmers.
The president of Tanzania directly directed, requiring the Ministry of Justice of Tanzania to censor and ratify it, as it was a major dynamic cooperation with Tanzania’s agricultural sector. The contract to sell raw cashew to Tanzania’s T&T Group not only affects Tanzania’s export revenue but also affects most cashew importers globally. Earlier, the Tanzanian Government tried very hard to find partners to buy the above batches of raw cashew nuts from India, Singapore, China, Kenya … but failed to reach agreement on selling prices.
In order to come to an agreement to buy this historical raw cashew nut, T&T Group has sent experienced experts in the field, directly taking samples and inspecting all 11 cashew clusters of the Tanzanian Government. . Test results show that all the cashew nuts are very well preserved, ensuring both quality and quantity. It is expected that the first raw cashew shipments from Tanzania will return to Vietnam in September this year.
As a country that imports raw cashew nuts as well as the largest export of cashew nuts in the world, Vietnam almost plays a coordinating role, bridging the construction of the global value chain for the cashew industry that is still fragmented. among countries that provide raw cashew (Ivory Coast, Nigeria, Mozambique, Benin …), processing countries (Vietnam, India) and consumer markets.
Recently, the market survey data show that Vietnam produces and imports about 1.6 million tons of raw cashew per year, of which domestic supply cannot meet 25% of the actual capacity. Severe raw material shortage for Vietnamese cashew businesses. The majority of raw materials still depend on imports from African countries. T&T Group signed a contract to buy and buy raw cashew not only this time, not only brought a plentiful source of raw materials for the domestic cashew industry, but also continued to strengthen the position of Vietnam as a raw cashew importer and export of large cashew nuts. most in the world, accounting for 60% of global production (according to the Vietnam Cashew Association — Vinacas).
Tanzania is an East African country, located in the southern hemisphere, providing 75% of raw cashew production in East Africa, an estimated 250,000 tons of raw cashew annually. The contract to purchase raw cashew nuts in Tanzania this time is within the framework of T&T Group’s long-term cashew nut production and trading project, following two traditional markets in West Africa, Ivory Coast and Guinea Bissau.
As of August 2019, T&T Group has supplied Vietnam with 20,000 tons of raw cashew goods from Ivory Coast and 24,000 tons of raw cashew from Guinea Bissau. Overall 176,000 tons of raw cashew from Tanzania will increase the total supply to 220,000 tons, estimated to account for 15% of the raw cashew imported from abroad of Vietnam, which is mainly imported from Africa.''
Mwenye macho haambiwi Tazama.
''T&T Group officially signed a contract to buy 176,000 tons of Tanzanian raw cashew in the 2018 season with representatives of the Tanzanian Government. This is the largest crude cashew purchase contract in the history of the world cashew industry ever since. On July 30, 2019 in Tanzania, witnessed by many senior officials in the Tanzanian Government, representing the Group. T&T Group officially signed a contract to buy 176,000 tons of Tanzanian raw cashew in the 2018 season with representatives of the Tanzanian Government. This is the largest raw cashew purchase contract in the history of the world cashew industry ever.
This contract to purchase seeds is signed between T&T Group and Tanzania’s Grain and Other Products Association (CPB). Accordingly, T&T Group has agreed to buy 176,000 tons of raw cashew in 2018 season in a total of 210,000 tons of raw cashew that the Tanzania Government has bought reserves from farmers.
The president of Tanzania directly directed, requiring the Ministry of Justice of Tanzania to censor and ratify it, as it was a major dynamic cooperation with Tanzania’s agricultural sector. The contract to sell raw cashew to Tanzania’s T&T Group not only affects Tanzania’s export revenue but also affects most cashew importers globally. Earlier, the Tanzanian Government tried very hard to find partners to buy the above batches of raw cashew nuts from India, Singapore, China, Kenya … but failed to reach agreement on selling prices.
In order to come to an agreement to buy this historical raw cashew nut, T&T Group has sent experienced experts in the field, directly taking samples and inspecting all 11 cashew clusters of the Tanzanian Government. . Test results show that all the cashew nuts are very well preserved, ensuring both quality and quantity. It is expected that the first raw cashew shipments from Tanzania will return to Vietnam in September this year.
As a country that imports raw cashew nuts as well as the largest export of cashew nuts in the world, Vietnam almost plays a coordinating role, bridging the construction of the global value chain for the cashew industry that is still fragmented. among countries that provide raw cashew (Ivory Coast, Nigeria, Mozambique, Benin …), processing countries (Vietnam, India) and consumer markets.
Recently, the market survey data show that Vietnam produces and imports about 1.6 million tons of raw cashew per year, of which domestic supply cannot meet 25% of the actual capacity. Severe raw material shortage for Vietnamese cashew businesses. The majority of raw materials still depend on imports from African countries. T&T Group signed a contract to buy and buy raw cashew not only this time, not only brought a plentiful source of raw materials for the domestic cashew industry, but also continued to strengthen the position of Vietnam as a raw cashew importer and export of large cashew nuts. most in the world, accounting for 60% of global production (according to the Vietnam Cashew Association — Vinacas).
Tanzania is an East African country, located in the southern hemisphere, providing 75% of raw cashew production in East Africa, an estimated 250,000 tons of raw cashew annually. The contract to purchase raw cashew nuts in Tanzania this time is within the framework of T&T Group’s long-term cashew nut production and trading project, following two traditional markets in West Africa, Ivory Coast and Guinea Bissau.
As of August 2019, T&T Group has supplied Vietnam with 20,000 tons of raw cashew goods from Ivory Coast and 24,000 tons of raw cashew from Guinea Bissau. Overall 176,000 tons of raw cashew from Tanzania will increase the total supply to 220,000 tons, estimated to account for 15% of the raw cashew imported from abroad of Vietnam, which is mainly imported from Africa.''
Mwenye macho haambiwi Tazama.
