(Ecofin Agency) - At the end of the latest Ministers’ council in Benin, the government announced that the limit price per kg of cashew has been increased to CFA650 for the 2017-18 marketing season which began yesterday March 15 and will run till next October 31. This price is up by CFA150 compared to the price during the previous season (CFA500). It is also one of the highest in the West African sub-region. 

“This floor price reflects the government’s desire to promote the cashew sector by preserving the producers, processors and exporters’ interests,” the government indicated.

In the long term, the country aims to increase the production of cashew nuts from 120,000 tons actually to 300,000 tons. It also wants to increase the transformation rate to 50%. 

Espoir Olodo