President of Tazania, John Magufuli

Tanzania’s President, John Magufuli says his government could buy the country’s cashew nut stock, after he fired two ministers and dissolved the industry regulator in a row over the price of the commodity.

Last month, Mr Magufuli ordered a 94 percent increase cashew nut prices at the industry regulator’s auctions and fired the organizations head in moves he said were aimed at safeguarding farmers from unsustainable low prices.

Cashew the most valuable of the East African nation’s export crops, but falling prices have prompted Tanzanian farmers to halt sales, saying operational costs were higher than what was offered for the produce.

Minister of Agriculture, Charles Tizeba and his trade counterpart, Charles Mwijage were relievedof their posts.

A news agriculture minister has been named in the person of Japhet Hasunga, while Joseph Kakunda will be in charge of trade.

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