Thursday, Feb 29, 2024
logo
Update At 14:00    USD/EUR 0,92  ↑+0.0003        USD/JPY 149,82  ↓-0.809        USD/KRW 1.333,72  ↓-0.43        EUR/JPY 162,35  ↓-0.926        Crude Oil 83,40  ↓-0.28        Asia Dow 3.724,48  ↓-37.1        TSE 1.746,50  ↓-7.5        Japan: Nikkei 225 39.164,76  ↓-43.27        S. Korea: KOSPI 2.645,78  ↓-6.51        China: Shanghai Composite 2.979,56  ↑+21.7102        Hong Kong: Hang Seng 16.561,53  ↑+24.68        Singapore: Straits Times 3,15  ↑+0.002        DJIA 22,42  ↓-0.13        Nasdaq Composite 15.947,74  ↓-87.563        S&P 500 5.069,76  ↓-8.42        Russell 2000 2.040,31  ↓-15.801        Stoxx Euro 50 4.883,77  ↓-1.97        Stoxx Europe 600 494,59  ↓-1.74        Germany: DAX 17.601,22  ↑+44.73        UK: FTSE 100 7.624,98  ↓-58.04        Spain: IBEX 35 10.068,60  ↓-45.2        France: CAC 40 7.954,39  ↑+5.99        

Sweet success in Tanzania

Article - November 30, 2011

Global sugar production increased by 5.5 per cent in 2010-11 to a record 167 million tonnes, and Barclays forecast a 2.1 per cent year-on-year rise in demand for sugar in 2011-12. Sugar prices have soared from $400 to $900 per tonne in two years.

Currently Tanzania produces 304,000 tonnes of sugar. The industry employs almost 100,000 people either directly as growers or indirectly in trade and transport. Outgrowers earned TZS 29.4 billion in 2009-10. It also plays a crucial role in developing social amenities such as schools, hospitals and roads in rural areas.

The Sugar Board of Tanzania (SBT), established in 2001, has launched a plan aimed at increasing production and achieving self-sufficiency in sugar. By 2016 Tanzania aims to produce 540,000 tonnes of sugar per annum.

However, significant development is still required to make Tanzania the breadbasket of Africa. Mr Mathew Kombe, director general of the Sugar Board of Tanzania says: “Every additional 100,000 tonnes of sugar per year requires about $300 million initial investment, so we invite investors to come and join us.”

Sukari House, Sokoine Drive/Ohio Street
P.O. Box 4355, Dar es Salaam, Tanzania
T: 255 22 211 1523
E: sbt@iwayafica.com
W: www.sbt.go.tz

  0 COMMENTS