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Fall of 25% of guaranteed minimum price of cashew in Ivory Coast

Fall of 25% of guaranteed minimum price of cashew in Ivory Coast

February 7, 2019

 

The 2019 cashew season in Ivory Coast will start next Friday, February 15, probably in a more than gloomy climate. Yesterday, in the Council of Ministers, it was announced that the mandatory floor price would be FCFA 375 (€ 0.57) per kilo while it was at FCFA 500 (€ 0.76) last year (read The marketing cashew nuts are opening up in Côte d'Ivoire ). By way of comparison, the guaranteed minimum price for cocoa is CFAF 750 (€ 1.14) and CFAF 700 (€ 1.07) for coffee.

 

This tumble adds to income for producers who have already fallen by 20% last year, to FCFA 404 billion (€ 614 million) against FCFA 509 billion (€ 773.7 million) in 2017, he said been specified.

 

At issue, " an unfavorable international situation, marked by marketing difficulties ", while reforms had been implemented in Côte d'Ivoire.

 

The 20% drop in revenues could not be offset by the volumes, certainly, up but only 6.7% to 761 317 tonnes (t) of raw nuts against 711 236 t in 2017. On the year-round, as of December 31, 2018, 642,648 t had been exported; the remaining 46,303 t will be purchased by the Cotton and Cashew Council.

 

Source:http://africazine.com/