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  • Benin: Tolaro Global Partners with TradeHub to Strengthen Organic Cashew Segment 02/03/2022

    Feb 3rd, 2022

    In Benin, more than 80% of cashew nut production is exported in raw form to Asia, which generates a significant loss of earnings in terms of added value and job creation. In Benin, Tolaro Global and the West Africa Trade & Investment Hub (Trade Hub) launched a $10.2 million project on January 17 to stimulate the organic cashew market. The three-year initiative specifically aims to provide tools and technical training to 3,863 farmers to increase their production of certified cashew nuts from 1,567 tons to 8,000 tons by the end of its term. Implementation. As part of the project co-financed to the tune of $1 million by TradeHub, Tolaro Global intends to increase its annual raw nut processing capacity to 8,000 tons from the current 6,000 tons. She hopes to take advantage of the growing demand from American and European consumers for cashew-based products such as butters and spreads. The company also wants to add value to cashew apples by transforming 300 tonnes of the product into animal feed and anticipates revenues of $18.8 million by the end of the project. “  Like other West African countries, most of Benin's cashew harvest is exported for processing in foreign markets, resulting in a huge loss of income for both cashew producers cashew and for companies like Tolaro Global  ,” says Regis Ouattara, Public-Private Partnership Manager for Trade Hub and Liaison Officer with Tolaro Global. As a reminder, Tolaro Global was founded in 2011 and is located in the city of Parakou in northern Benin. The company is a leader in the processing and wholesale of cashew nuts in the country.


    Source: https://www.agenceecofin.com/
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