Africa-Press – Tanzania. FARM For the Future (FFF), the Iringa-based commercial farm, plans to invest 2.2 million US dollars (some 5.06bn/-) in cultivating macadamia and seed maize.
FFF will be the first in the country to grow macadamia on a large scale while giving a large number of farmers opportunities to lift themselves out of poverty through participation in the value chain.
The FFF Chairman, Mr Osmund Ueland, said macadamia nuts attract a premium price in international markets and would offer an important source of income for producers and foreign exchange earnings for the country.
“Our plan is to invest 2.2 million US dollars in high value crops specifically seed maize and macadamia and associated irrigation systems that will guarantee our ability to grow sustainably and profitably,” Mr Ueland said Tuesday in a statement.
Macadamia remains a niche product for their superior health benefits as well as natural cosmetics while they are also consumed as premium snacks and used as ingredients in cookies and ice cream.
FFF currently are producing seed maize, sunflower and maize and the investment support a string of other actors in the value chain from input suppliers to processors.
The Chairman also relished President Samia Suluhu Hassan’s tenacity to restore investors trust hence committed to further invest in the country.
He said in line with the President’s call, his company is actively looking for investors locally and in the European market to expand its equity.
The majority of their investment so far came from Europe and Mr Ueland would like to see local investors taking advantage of such an opportunity to invest in these highly profitable commodities.
“I would like to see at least 10 per cent investment coming from Tanzanians,” Mr Ueland said. Macadamias can be produced successfully in areas where avocados, coffee, papayas, mangoes and bananas do well.
Macadamia take three to four years to mature. A mature macadamia tree can produce over 300 kilos of nuts a year.
Mr Ueland appreciated the support from the government especially the Iringa Regional Commissioner’s office which launched the Iringa Investment Guide recently.
“The government pledge and efforts in welcoming foreign investors is very encouraging. This gives us confidence and it is one of the best ways the government can support us at a time when we are scaling up our operations,” he said.
He said the Iringa Investment Guide serves as a blueprint for facilitating investments and contributing towards attainment of Tanzania’s industrialisation dream.
With the farm’s investment in irrigation and high value crops, the numbers of permanent and casual workers will more than double from today.
The number of out growers will follow and the farm will become a strong motor in community development. Commercial farming and training on the same arena is the very unique model at FFF.
