To date, nearly 80% of cashew nut production is exported, constituting a major loss for the Ivorian economy. Indeed, the country only receives 3% of the value chain.
Government efforts
With this in mind, the government has set up agro-industrial zones dedicated to cashew processing financed by the project for Promoting the Competitiveness of the Cashew Value Chain.It has also set up a support mechanism for the supply of raw cashew nuts to local processors, as well as support for the installation of small-scale nut shelling units within producer cooperative societies.
A single structure across the entire value chain
Today, the cashew sector in Côte d'Ivoire has more than thirty processing units with a capacity of nearly 300,000 tonnes of raw cashew nuts. But only one really stands out. Because it is the only one to be on the entire value chain. Called Foods' Co, this structure located in the heart of V Baoulé, in the locality of Béoumi, strengthens the cashew value chain in Côte d'Ivoire through 95% of its production exported to various continents. Making it the best exporting company in Côte d'Ivoire during the 2024 Excellence Award awarded last August by the State of Côte d'Ivoire.
During a festive press conference on Thursday, September 19, 2024 in Abidjan-Marcory, its CEO Sanogo Tahirou expressed his gratitude to the Ivorian authorities, particularly President Alassane Ouattara, for establishing this “selective” and “prestigious” award that recognizes national champions and encourages entrepreneurs. “This award reflects FOODS'CO's unwavering commitment to promoting Ivorian know-how internationally,” said Mr. Sanogo.
In just six years of existence, the company has established itself as a major player on a national and international scale. Its processing capacity has increased from 3,000 tonnes in 2018 to more than 15,000 tonnes in 2024. The company is now looking to the future with the ambition of continuing to fly the flag for Côte d'Ivoire, both internationally and nationally.
The company currently employs nearly 600 people, 91% of whom are women. "Foods'Co will continue to strengthen its partnerships for the development of the Ivorian agro-industrial sector and the influence of our country throughout the world," said Sanogo Tahirou.
Difficulties for the cashew sector
Problems with the supply of raw nuts, difficulties in accessing the banking sector, lack of competitiveness compared to Asian companies... Ivorian processors have a series of handicaps that prevent them from developing solidly. These companies would need support for financing.
We are currently being held back by our ability to purchase raw materials.
"We can produce up to 18,000 t/year. To get the nuts, you have to pay for them. We are currently hampered by our ability to buy the raw material. As a result, we are still at half of what we could do because the big banks that have sufficient reserves to be able to take certain risks, to finance the operation have left our country and continue to leave. We are struggling to overcome this obstacle. The major challenge is financing," insisted Mr. Sanogo.
New dynamics
Dr Kaladji Fadiga, Director General of the Côte d'Ivoire Export Agency, while welcoming the efforts of this structure to represent Côte d'Ivoire from a processing and commercial point of view throughout the world, highlighted the implementation in the coming days of guarantee instruments for prospecting, the market and production-export. And this, to allow companies to go to another dimension.
"We are exploring new markets in Asia. There is a strong demand in China and Pakistan. What has been frustrating all this time is being a cashew nut exporting country and then our products were going to have added value in other places before being exported to the consumer market. Today, we can directly export the finished product from Côte d'Ivoire to these markets," said Dr Kaladji Fadiga.
It should be remembered that cashew nuts are the second largest agricultural export product, both in volume and value, behind cocoa. The country's ambition to achieve a 50% transformation rate for its national cashew nut production by 2030, like that of other major agricultural products, is becoming a major challenge....