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  • In Benin, the price of cashew nuts is set at FCFA 325, two times less than in 2017/18

    Feb 20th, 2020

    In the Council of Ministers yesterday in Cotonou, the purchase price to the cashew producer in Benin was fixed at FCFA 325 per kilo. The 2019/20 marketing campaign will open on March 19 from the city of Djougou and will end on October 31. Thus, in two campaigns, the producer price has been halved since last year it was lowered from FCFA 650 on the 2017/18 campaign to FCFA 400 on 2018/19 (read The price of cashew in Benin is falling from FCFA 650 to FCFA 400 per kilo ).

     " This adjustment of prices compared to the previous campaign aims to protect both the interests of the sector and of its organizers who are asked to continue to implement best practices in terms of culture, group selling and use of certified measuring instruments ", the press release said.

     " Following the objective evaluation of the past campaign as well as the international price trend on the cashew market, industry players have proposed, on behalf of the 2019-2020 campaign, a price 'purchase from the producer fixed at 325 FCFA ", explains the press release.

     Le gouvernent a rappelé à cette occasion "l'interdiction des sorties frauduleuses des noix du territoire national et de la perception de taxes autres que celles prévues par la loi de finances, exercice 2020."

     The Beninese Ministry of Agriculture, Livestock and Fisheries recalled that cashew represents the second export crop in Benin after cotton. Its production was around 150,000 tonnes of raw nuts in 2018. The objective is to reach 171,000 tonnes during this campaign which will open.