Ivory Coast, renowned for its cocoa production, has set its sights on becoming a global leader in cashew production. The latest data released by the Director General of the Cotton and Cashew Council reveals a remarkable 22% increase in the potential production of cashew nuts for 2023. This surge is attributed to favorable weather conditions. The country is poised to produce a staggering 1.25 million tonnes of cashew nuts in the upcoming season.
Critical player, promising outlook
Ivory Coast has firmly established itself as a critical player in the cashew market, with an annual production of approximately one million tonnes. According to the sources, cashew producers have already amassed around 100,000 tonnes of cashew nuts by June 21, 2023. This indicates a promising outlook, with total production expected to reach 1.25 million tonnes. However, some experts suggest that farmers have yet to procure an additional 1.15 million tonnes.
Increased cashew smuggling from neighboring countries like Guinea, Mali, and Ghana poses a significant challenge. Producers in these countries find Ivory Coast’s market more attractive, leading to an influx of cashews. This non-uniform inflow creates quantitative difficulties for Ivory Coast. Despite these hurdles, local processors have received 249,000 tonnes of cashew nuts, out of the target of 300,000 tonnes for the current season. Furthermore, impressive export figures of 593,000 tonnes to Vietnam and India reflect the country’s strong presence in the global cashew market.
To enhance cashew processing within the country, plans are underway to establish four cashew industry parks in the northern and central regions of Ivory Coast. This strategic move aims to increase the processing capacity and value addition at the local level, propelling the country’s cashew industry to new heights. Ivory Coast’s cashew value addition industry faced significant challenges during the COVID-19 pandemic as global demand for cashew nuts declined. Despite government subsidies and export exemptions, the industry encountered an unprecedented crisis. However, with its resilient spirit, Ivory Coast remains committed to remaining competitive in the global cashew market, striving for continued growth and success.