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Cashew Nuts in Tanzania Export Market

Tanzania is one of the leading producers of cashew nuts both in Africa and globally. Cashew exports contribute significantly to the nation’s economy, accounting for 10-15% of its foreign exchange earnings, generating at least $18 million. As a major cash crop, cashews play a crucial role in the country’s agricultural sector. Tanzania ranks eighth in global production and fourth in Africa for cashew output. The Tanzanian cashew market is projected to be valued at $690.97 million in 2024 and is expected to grow to $860.25 million by 2029, with an estimated CAGR of 4.48% over the forecast period (2024-2029).

cashew export

Bank of Tanzania: Cashewnuts export value (Millions of USD)

According to the data presented, Tanzania's cashew nut exports were valued at approximately $250 million in 2022. Projections indicate a significant 37% increase in exports by 2025, reflecting the growing strength and resilience of the industry. Despite the volatility often observed in the cashew nut export market, the sector demonstrates immense potential for economic growth in the country. This upward trend is likely driven by

  • Government support: and strong government support. The Tanzanian government has set an ambitious goal to triple cashew nut production within the next four to five years.
  • Environment: The growth of the cashew market in Tanzania is propelled by favorable climatic conditions the timing of Tanzania’s harvest season aligns with the off-season for cashew supply from major producers like India and West Africa.’
  • Global Demand: The global cashew nuts market size was evaluated at $8 billion in 2022 and is slated to hit $11 billion by the end of 2030 with a CAGR of nearly 4.5% between 2023 and 2030.

This strategic advantage allows Tanzanian cashews to command higher prices on the global market, enhancing the country’s competitiveness and boosting export revenues.

If your agriculture business produces and exports cashews, let's connect to explore impactful investment opportunities if your agriculture business produces and exports cashews. Together, we can boost production, drive sustainability, and create economic and social impact while capitalizing on the growing global demand for cashews.