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  • Cashew sales rose 108.7% in 2017

    Apr 1st, 2019

    The sale of cashews from Benin abroad amounted to CFAF 48.3 billion in 2017 compared to CFAF 23 billion in 2016. According to the 2017 report of the balance of payments and Benin's overall external position made public by the Central Bank of West African States (BCEAO) in February 2019, this development is also due to more favorable weather conditions. The objective of the Beninese government in relation to this crop is to produce at least 300,000 tons against the current production estimated at 140,000 tons by 2021. To achieve this objective, three cashew production basins will be used. This is the basin of the Hills extended into the Zou and whose production is around 75,640 tons of cashew. It is a basin that has four plants whose processing capacity does not exceed 30,000 tons.

    There is also the West Benin basin which takes into account the Donga and extends over the department of Atacora. This basin produces 42,827 tons with only one processing unit of 1,000 tons being installed. Finally, the East basin consists of Borgou with its extensions on the Alibori whose production amounts to 87,482 tons. New facilities are planned in Djidja, Savalou, Djougou, Birni, N'Dali and Nikki to boost production and achieve the expected results.

    The cashew nut is the second export crop of Benin after cotton. Its production is driven by the growing interest of farmers in this crop, whose prices on the international market have picked up, under the effect of rising global demand, particularly from Asia, Europe and other countries. United States. In Benin, the cashew sector is the third pillar of the national economy after cotton and the port of Cotonou. It contributes 3% to GDP and 7% to agricultural GNP and accounts for 8% of export earnings.

    Given its importance for the national economy, the Government in its Program of Action (PAG) and in its desire for structural transformation of the economy, retained it among the priority sectors. Cashew is one of the flagship sectors of the Agricultural Sector Development Strategic Plan (PDSA-2025) of the Ministry of Agriculture, Livestock and Fisheries. It is a sector that is now emerging as one of the opportunities for improving incomes and creating jobs in rural areas alongside cotton.

    According to a document of the Cashew industry of Benin, the 2018 marketing year was marked by the existence of residual stocks of about 20,000 tons in the productive areas and about 12,000 tons in Cotonou. This is due, among other things, to soaring prices up to CFAF 900 per kilogram of cashew nuts, increased production, the closure of several processing units in India (770) and Vietnam. To all this is added the lack of incentives for local processing units, the difficulty of accessing financing for local processing units and the poor organization of marketing. In order to sustain the encouraging results obtained, the Cashew Inter-branch wishes to strengthen production and processing techniques in quantity and quality of cashew products, as well as the installation of new processing units in order to cope with almond market is growing strongly.

    For the Interprofession, it is also about organizing efficiently the marketing system. The country will need reliable statistics for the sector with the establishment of a Market Analysis System (MIS). Developing quality standards and standards as well as the label of cashew products of Benin will allow the sector to have an international recognition.The elaboration and implementation of a financing plan for the cashew nut sector is desirable.


    Source: https://24haubenin.info