Côte d’Ivoire: CFA500 is the new minimum guaranteed price for cashew nuts
(Ecofin Agency) - In Côte d’Ivoire, the 2018 cashew marketing campaign began today, February 15, 2018, with a minimum guaranteed price of CFA500 per kilogram. Compared to the nut’s price during the previous campaign, it represents an increase by CFA60.
While in 2017 it produced 711, 236 tons of cashew, missing its initial target of 715,000 tons, Côte d’Ivoire expects 750, 000 tons during the present campaign. This should allow it to comfort its global leadership and take a step in achieving its goal which is to produce 1 million tons, by 2020.
According to the authorities, there should be an improvement in terms of “quality and implementation of incentive measures” to increase the transformation rate.
In 2017, the 29 cashew processing plants installed in the country had processed 44, 628 tons (6.62% of the national output), a volume well below the installed capacity (109, 500 tons).
Let’s note that Cote d’Ivoire is the fourth global cashew nuts processor after India, Vietnam, and Brazil.