CashewInformation.com

CashewInformation
News

Home   >   NEWS & VIEWS   >   News

  • Côte d'Ivoire: "Out of 20 local cashew processors, only 4 are able to operate" (GTCI) 02/17/2022

    Feb 17th, 2022

    In Côte d'Ivoire, local cashew processing players continue to sound the alarm. In a press release published on Monday, February 14, the Grouping of Ivorian Cashew Industrialists (GTCI) denounced the growing marginalization of operators in the processing segment. If the country has asserted itself in 2021 as the third largest exporter of cashew kernels, the organization emphasizes that this new title hides the discomfort of local actors. Indeed, according to the GTCI, only 4 out of 20 Ivorian processors are currently able to operate in the industry and 80% of factories are shut down or bankrupt due to lack of state support. In this context, the group believes that the progress made last year is mainly attributable to Asian multinationals such as the Singaporean Olam, which have a much better financial base. This new interpellation of the GTCI on the delicate situation of local operators comes after a call launched last July to request support from the government in order to strengthen the competitiveness of national players. In the country, the 2022 campaign was launched on February 4 on the basis of a guaranteed minimum price of 305 FCFA/kg.


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