Cashew Export

Cashew nuts are an important agricultural export revenue source for Côte d'Ivoire, with an annual production of nearly 140,000 tons, making it the second-largest agricultural export product after cotton. According to the price determined at the Côte d'Ivoire Ministerial Meeting on March 30, 2022, the trading price for raw cashew nuts this year has been set at 350 CFA francs per kilogram, an increase of 50 CFA francs from the previous quarter. Cashew cultivation in Côte d'Ivoire employs 200,000 people. Although there is currently no forecast for the new season's production, it is expected that this year's cashew harvest will be between 1,000,000 tons. Côte d'Ivoire is one of the major cashew-producing countries in West Africa, alongside Nigeria, Guinea-Bissau, and Ghana. West Africa accounts for 45% of the world's total cashew production, with half of that produced by Côte d'Ivoire.

In the South Asian region, particularly India, Vietnam, and Cambodia, approximately 45% of the global cashew production is also concentrated, but this region accounts for 90% of cashew processing industries. Additionally, Tanzania, Mozambique, Indonesia, and Brazil produce the remaining 10% of cashew nuts. Although Africa is one of the largest cashew-producing regions in the world, it has not yet established a mature cashew processing industry. Most raw cashew nuts are still exported to South Asia for deep processing before being distributed globally. As one of the main cashew-producing countries in Africa, foreign buyers typically purchase 80% of Côte d'Ivoire's raw cashew nuts, with the remaining 20% processed locally. However, in the past two years, the outbreak of the COVID-19 pandemic has led to border closures and movement restrictions, making it difficult for foreign buyers to participate in the initiation ceremonies of Côte d'Ivoire's cashew purchasing seasons. This has caused market uncertainty and fluctuations in local raw cashew nut prices. Therefore, stabilizing prices, upgrading the cashew industry chain, and promoting local cashew processing have become the development directions for Côte d'Ivoire's cashew industry.