The sales of cashewnuts through the Tanzania Mercantile Exchange (TMX), a system that manages digital auctions with the aim of increasing market certainty, freedom to determine prices, certainty of payment as well as stimulating competition for farmers’ crops in the country to bring more results positive for the farmers of Lindi Mwambao Cooperative Union.
In the auction held in the village of Ng’apa in Lindi region, the farmers have sold their cashewnuts at a high price of Tsh 3070/= and a low price of Tsh 2830/=. Second grade cashewnuts have been sold at a high price of Tsh 2550/= and a low price of Tsh 2510/= for a total of 3,000 tons of cashew nuts.
The Tanzania Mercantile Exchange (TMX) is the first commodity exchange market in Tanzania. The commodity exchange is established as a platform where farmers, traders, exporters and other various market actors are able to access domestic and global market and obtain a fair price in selling or buying of commodities.
