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  • Ivory Coast: The purchase price of cashew set at 350 CFA francs per kilogram

    Feb 12th, 2016

    The Council of Ministers held this Wednesday, February 10 has set the purchase price of cashew nuts at 375 CFA francs per kilogram for the 2016 season which opens on February 15.

    According to the spokesman of the Ivorian government, the Minister Bruno Koné, this is a "floor price" for the "farm gate" purchases.

    Cashew confirms its status of "cocoa" in the northern part of Côte d'Ivoire with the ongoing rise. The farm gate purchase price recorded a jump of 75 francs, or 27% more compared to 275 FCFA proposed in 2015. A great year in which the peasants had achieved record prices for buyers of up to 700 francs per kilo in some parts of the country. 2015 is also the year that the country increased its production to just over 700 000 tons, becoming the largest producer followed by India.

    In his speech, Bruno Koné has meant that farmers were paid up to 288 billion FCFA against 169 billion FCFA in 2014.

    The challenge of the Ivorian cashew sector remains the transformation. With a processing level of less than 10% of its offer in 2014, the government aims to transform the entire production by 2020.