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  • Benin: the minimum price per kilogram of cashew nuts set at 325 FCFA in 2019/2020

    Feb 20th, 2020

    In Benin, the guaranteed minimum price for cashew nuts continues to fall. In 2019/2020, the kilogram of the raw material will be traded at 325 Fcfa on the domestic market. This was stated yesterday by the government after the Council of Ministers.

    This is the second consecutive drop in the tariff from one year to another after the price has been lowered from 650 Fcfa / kg to 400 Fcfa / kg from 2017/2018 to 2018/2019. If he does not specify the reasons for the decline, the executive stresses that the fixing of this amount results from an "  objective evaluation of the past season as well as of price trends on the world cashew market  ".

    The 2019/2020 campaign will be launched on March 19 in Djougou in the north-west of the country and should end on October 31. As a reminder, Benin's objective was to harvest 171,000 tonnes of cashew nuts in 2018/2019 compared to 140,000 tonnes a year earlier. The cashew sector represents 8% of the value of exports according to WTO data.