The Ivory Coast partially lifts the suspension on the purchase and export of raw cashew nuts
About a month ago, the Ivory Coast suspended the purchase and export of raw cashew nuts for exporters to ensure the supply of local factories (Read: Ivory Coast suspends exports of raw cashew nuts). This measure, which does not seem to have met the expectations of the processors (Read: In Ivory Coast, local cashew processors still need nuts), has been partially lifted today (June 10) according to a note dated June 7 from the Ministry of Agriculture, Rural Development, and Food Production. Partial lift because it only concerns the stocks held by the exporters, a list of which is provided in the annex.
Production decline in 2024
As the world’s leading producer of cashew nuts with approximately 40% of the global supply, Ivory Coast will see its production decrease in 2024 to 1 million tonnes (Mt), down from 1.225 Mt in 2023, said last week the Director General of the Cotton Cashew Council, Adama Coulibaly. A underperformance due to unfavorable climatic conditions, with production expected to be at 1.25 Mt.
The director also noted that the rate of local transformation of cashew nuts into kernels was 21% (265,863 tonnes) in 2023 with about thirty industrial units with a total capacity of 350,000 tonnes.