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  • Côte d'Ivoire: the cashew sector is hit hard by the crisis 05/22/2023

    May 22nd, 2023

    Over the past two months, cashew demand has remained limited and at very low levels: the farm gate price fluctuates between 150 and 200 CFA francs per kilo, far from the official price set at 315 CFA francs/kg. Result: cashew producers find themselves with large stocks in their reserves : there are still about 130,000 tonnes in the hands of producers, according to the CCA . Stocks, which may deteriorate as the rainy season progresses. To help them, the Cashew Cotton Council has been organizing grouped sales in certain prefectures over the past few days: " the goal is to encourage producers not to sell off their products and to sell at the price ", explains Adama Coulibaly, the president of the CCA. “ But that is not enough to absorb all the production ,” admits this manager. For its part, the Grouping of Cashew Transformers of Côte d'Ivoire (GTCI) says that its factories are idling, despite the state aid program. “ In theory, we are supposed to receive, before the end of February, part of our capacity: this is the seed stock, explains Augustin Kouassi, the spokesperson for the GTCI.. With this volume, representing 20% ​​of our capacity, we have to buy ourselves, directly, the remaining 80%. And it must be done before the end of April, since afterwards, the qualities deteriorate. In reality, the CCA makes the requested products available to the factories late. This means that we do not have the volume and the quality to cover all our needs. So, we are delivered the product of poor quality and late and we don't have time to buy the remaining 80%. Eventually, our factories end up with a very low volume. Ivorian factories are on the verge of bankruptcy and risk closing if nothing is done in time to help them ”. Dangoté Koné, the spokesperson for Hambol producers, recommends a discussion between all the actors in the sector to find a price that reflects the reality of the market.


    Source: https://www.rfi.fr/
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