Wet cocoa black market, the hindrance in raising external finance to small holder cocoa famers in Tanzania
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Date
2016
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
International Journal publishing house
Abstract
Buyers and financial institutions play major roles in financing agriculture because of their direct involvements in the sector. Cocoa farmers in Tanzania had failed to benefit from these players in bridging their financial gaps. The side-selling of wet cocoa through black markets was found to be the major constrain. Despite the government’s effort to get rid of Njemkes, wet cocoa black market was still high which accounted for 19.83% of all cocoa traded in the district. Side selling of wet cocoa was reported by farmers to be the major cause of poor cocoa stock management. The situation threatened 70% of financiers to avoid extending credits to cocoa businesses. The business that involves wet cocoa procurement is referred by this research to as the black market and the dealers in that business are known as Njemkes according to local language in Kyela. This research was conducted to assess the effect of wet cocoa black market in raising external finance to cocoa farmers in Tanzania. It went further to suggest the appropriate measures that should be taken to get rid of this illegal business in the district.
Description
Abstract. Full text article available at http://www.researchjournali.com/view.php?id=2453
Keywords
Cocoa, Cocoa production, Wet cocoa, Tanzania, Agriculture, Management, Cocoa farmers
Citation
Molela, G. (2016). Wet cocoa black market, the hindrance in raising external finance to small holder cocoa famers in Tanzania. Researchjournali’s Journal of Agriculture, 3(4), 1-15