cashew producers worried about foreign competition

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While the country, world leader in cashew nut production, has great ambitions for the local processing of cashew nuts, Ivorian processors fear for the survival of their activity, due to competition from foreign companies, mainly those from from Asia. They call on the government to put in place strong incentives by the end of the year.

With our correspondent in Abidjan, Sidy Yansané

In a memo made public Thursday, November 25, the Cashew Industrial Group deplores that Côte ďIvoire does not “ captures only a tiny fraction of the wealth generated by the market Of cashew nut. Because despite its status as the world’s leading producer, the country barely processes 10% of its cashew nuts.

At the beginning of November, the Cotton Cashew Council announced its intention to triple the local processing of its production from next year, with a target of half its cashew nuts processed on site by 2025.

The stated ambitions for this sector have prompted many national manufacturers to embark on the adventure. But the strike force of their Asian competitors, particularly Vietnamese, more experienced and at more competitive prices, weighs heavily on Ivorian processors. Several factories have already gone out of business, others are content to survive.

Joined by RFI, cashew entrepreneurs preferring to remain anonymous also question structural obstacles: lack of skills, expensive equipment to import, but also poor support from Ivorian banks and the economy. State, despite its subsidies.

The manufacturers hope that the government will launch much more incentive measures, such as a guarantee fund to motivate banks to release financing.

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