Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.
Tanzania: Rise in agricultural exportsMonday, September 21, 2015 > 12:00:41
Foreign exchange earnings from agribusiness have registered substantial growth, thanks to the increase of export price and value of some agriculture products.
The increased flow of export earnings from agriculture is good news to the stability of the shilling that in recent months experienced sharp fall against the US dollars. Despite the growing demand for the US dollars from the importer demand, local currency has of late continued to strengthen due to agricultural inflows.
Cashew nut export earnings increased to 252.8 million US dollars from 133.4 million US dollars while earnings from coffee exports rose to 148.8 million US dollars from 126.7 million US dollars. However, the performance of cotton, tea, cloves and sisal recorded sharp decline.
With the launch of the Tanzania Agriculture development Bank (TADB) recently and the forthcoming commodity exchange will contribute and boost agriculture productivity and export earnings. According to the BoT report, the value of goods and services export increased by 9.4 percent to 9,398.5 million US dollars compared to an increment of 6.5 percent to 8,885.8 million US dollars in the corresponding period 2014.