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  • Cashew: Ivory Coast acquires the means to tackle the course of processing 100%

    Apr 21st, 2016

    Largest producer of cashew in 2015 with 702,510 tons, Ivory Coast wants to make the transformation a priority when the issue of storage tier financing it intends to develop, learned Press Agency Africaine (APA), on site in the economic capital.

    "The warehouse receipt system (SRE) is an alternative, a way to access the funding," said Raphael Agnero, Support Project Coordinator for the agricultural sector in Ivory Coast (PSAC) in Abidjan during a workshop on Thursday to present the content of the study on the capacity assessment and storage needs with a view to setting up the warehouse receipt system (SRE).

    The representative of the International Finance Corporation (IFC), Fanja Ravoavy praised "the great ambition" of the Ivorian state to turn to100% of its production of the cashew nuts by 2020.

    "We all know the problems of access to financing especially working capital facing transformers," acknowledged Mrs. Ravoavy hence the initiative to set up the storage Receipt System (ERS) which regulates funding issue "a slightly easier way" to obtain raw materials.

    "This system can not function without the warehouses with international standards", she has also set garde.Lui emboitant not, Kobenan Mougo, the Ministry of Industry emphasized that "the use of shops is a prerequisite. "

    The first studies carried out by a firm give the existence of 1,056 warehouses with 266 selectable for the SRE and require rehabilitation of about 4 billion CFA francs. An additional capacity of 106,000 mt would be needed by 2020.

    Karim Berthé, General Coordinator in charge of industrial development Cotton Council and cashew nuts, placing the interest of such a subject, announced it is the first link component of the structuring of the sector in 2015 anacarde.En more than 702 510 tons were produced in Ivory Coast and less than 50 000 tons were processed locally.

    "We have the ambition to transform 100% product in Ivory Coast. Hence the availability of storage spaces, "said.SRE is a method of financing whereby loans are made against the property held as collateral in a warehouse.

    The warehouse manager issues a receipt for the goods stored and they are used as collateral on a loan from a financial institution.


    Source: www.fr.africatime.com