Tuesday, July 22, 2014
KOCHI, JULY 22:
Cashew kernel prices continued to rise in June at all origins and markets. As a result, shipments of the commodity declined compared with the same month a year ago.
During June, shipments stood at 9,590 tonnes valued at ₹422.82 crore at an unit value of ₹440.88 a kg against 10,380 tonnes valued at ₹422.75 crore at an unit value of ₹407.27 a year ago, according to Cashew Export Promotion Council of India (CEPCI) sources.
Exports during April-June this year totalled 25,305 tonnes valued at ₹1,106.21 crore with the unit value being ₹437.12 a kg, while they were 29,802 tonnes valued at ₹1,177.09 crore (unit value of ₹394.94 a kg) in the year-ago period.
Exports of roasted and salted cashew also slipped by around 5 per cent during the first quarter to 216 tonnes valued at ₹8.97 crore against 439 tonnes valued at ₹15.10 crore in the same period a year ago.
In this case also, the rise in prices is mainly attributed to the decline. Similarly, shipments of cashew nut shell liquid fell to 1,478 tonnes valued at ₹7.02 crore from 1,717 tonnes valued at ₹6.56 crore, he said.
Imports of raw cashew during the first quarter of the current fiscal are up substantially at 2,78,365 tonnes valued at ₹1,825.53 crore (unit value of ₹65.58) against 2,17,898 tonnes valued at ₹1,194.31 crore (unit value of ₹54.81) in the year-ago period.
Industry sources at Kollam said the rise in raw cashew prices has pushed the kernel prices up and the trade is not able to get the parity price from exports.
Imports have to be made to keep the factories running and meet the commitments, they said.
According to Pankaj, a Mumbai-based dealer, as the prices paid for RCN in the current season are substantially higher than 2013, processors may not be able to continue selling kernels at the lower end of the range.
“At the same time, the need for small processors to keep selling regularly will prevent prices from going up too much,” he said.
- The Hidu
BISSAU, July 22 (Reuters) - Guinea-Bissau's 2014 cashew exports reached 70,000 tonnes by July 19 since the start of the season in March, up 40 percent on the same period last year, the government said.
Trade minister Sherifo Embalo said another 60,000 tonnes of cashew nuts were awaiting shipment, bringing this year's harvest so far to just under the total production last year of 140,000 tonnes.
A jump in exports of the snack, the main foreign exchange earner of the tiny West African nation, would boost the economy of the politically unstable country, which has a new government after two years of transitional rule following a 2012 coup.
"Guinea-Bissau has already exported 70,000 tonnes of cashew," Embalo said in comments to journalists over the weekend.
Embalo said the newly elected government was prioritising the cashew sector over timber exports. Timber exports from Bissau, to China especially, rose spectacularly during transition rule because of illegal logging.
Fears that the government may clamp down on timber exports have caused congestion at the country's main port as timber operators scramble to ship out their wood before a possible ban.
The government has also said it will stop the smuggling of cashews over the border into neighbouring Senegal, a flow that Embalo said cost Guinea-Bissau some 60,000 tonnes of nuts each year.
Guinea-Bissau is the world's fifth-largest cashew exporter behind India, Vietnam, Ivory Coast and Brazil. Almost all the crop is exported without any processing.
The sector employs some 80 percent of the workforce in the former Portuguese colony of 1.6 million people. A fall in cashew prices last year forced many families deeper into poverty.
(Reporting by Alberto Dabo; Writing by Daniel Flynn and Bate Felix; Editing by Dale Hudson)
KOLLAM: Cashew exporters are set to save more than Rs 21 crore a year in cargo transport as the ports of Kollam and Tuticorin finalised a deal to transport cashew cargo meant for import and export. A decision regarding this was finalised in the presence of Ports Minister K Babu with representatives from both ports and cashew exporters here on Monday.
With this deal, 43,000 truck loads of cashew would be transported via ship route between the ports, thereby saving time and handling charges. If a container of cargo is taken through sea route, a merchant can save Rs 5,000. Besides they can also enjoy the subsidy of Rs 1 per tonne extended by the State Govt for water transportation. The minister said the facility would start functioning by Sept. Tuticorin port receives maximum quantity of imported raw cashewnuts in the country and with 400 cashew factories, Kollam is the hub of cashew export and import in the country.
Ever since the SC verdict on restriction of container movement on roads, the govt had been promoting the water transportation route. Ramji Krishnan, CEO, Dakshin Bharat Gateway Terminal, who represented the Tuticorin port, said he was satisfied with the infrastructure in the port here. P Sundaran, vice-chairman of Cashew Export Promotion Council, welcomed the decision and said that the decision would help in the timely arrival of raw cashewnuts.
K Babu said that a slew of measures for infrastructure upgradation will be done which will change the face of the port and the adjacent coastal area. He said that online customs facility would be implemented soon which would speed up cargo handling in the port.
For other facilities such as allotting permanent sales tax officials and VAT officials, which had been the demand of exporters from a long time, the minister said that a decision regarding this would be taken in the next two days. On setting up a storage facility, the Minister agreed to take up the issue with the Finance Ministry.
“Facilities in the Cashew Export Promotion Council here would be used as there is no permanent lab now in the port,” he said.
Sunday, July 20, 2014
KOLLAM: Cashew exports, which earned the country $800 million or `4,200 crore during the financial year that ended on March 31, may be severely affected if the 10-day relay protest by the Kerala Cashew Workers Centre (CITU) from Monday spreads to 800-odd private export companies in the state.
Kerala accounts for nearly 60 per cent of Indian cashew exports and more than 95 per cent of its total exports come from private players. Kerala Cashew Workers Centre would begin protests outside 40 factories under the Kerala State Cashew Development Corporation (KSCDC) and Kerala State Cashew Workers Apex Industrial Co-operative Society (Capex) from July 21 to 30, demanding among other things doubling of minimum wages for cashew workers and immediate disbursement of gratuity dues.
If unresolved, the protest would spread to private factories in Kollam, Thiruvananthapuram and Alappuzha, said J Mercykuttyamma, head of Kerala Cashew Workers Centre. Kollam, state’s cashew export hub, has 400 cashew factories. The Kerala Cashew Workers Centre is also demanding opening up of factories of Cashew Development Corporation and Capex.
Industry officials said that the cashew export sector was going through a very delicate phase and any attempt to disrupt the slow revival in the sector after last year’s slump would result in grave consequences. The export value declined 20 per cent in the financial year ended on March 31, 2014. Similarly, volume declined 13 per cent to 100,105 metric tonnes in the same period. “This protest is just a ploy by the trade union to extract money with festive bonus in sight. The protest, howsoever innocuous will have an impact on productivity, lead to loss of work hours and many owners would be forced to shut their units,” said a senior official with Kollam-based Vijayalaxmi Cashew Co, the top exporter from the state. The company has 19 large factori es in Kerala, 59 small units in Tamil Nadu and Andhra Pradesh.
Though cashew factory owners in Kerala have factories in other states, they prefer having their export units based in Kerala mainly due to the skilled labour in the state.
According to Sasi Verma, executive director at Cashew Export Promotion Council of India, the industry is at a stage where the exporters are not able to realise even the production value.
Companies are finding it unprofitable to run the factories when the cashew nuts are priced high and the exported kernals are getting low value in the international markets. Even the top exporter like Vijayalaxmi Cashew Co was shut for 45 days in the April-May period, he pointed out.
Some companies went ahead and imported raw cashew nuts from East African countries such as Tanzania paying $200 per tonne above the market rate, without understanding the cyclical nature of the trade. Many companies are limping back to normalcy after prices of raw nuts dipped a little in West African countries such as Ghana, Ivory Coast etc.
Any production disruption at this stage would sound a death knell for those firms which have huge debt on its books, said industry officials.
The cashew industry generated 170 million dollars in the form of foreign exchange earnings for the economy in 2013.
Mr Justice Samuel Adjei, Deputy Brong-Ahafo Regional Minister who made this known in Sunyani said the industry is the largest contributor to non-traditional export crops.
The Deputy Regional Minister was speaking at the closing session of a five-day master training programme, for stakeholders in the cashew sector, drawn Ghana, Burkina-Faso, Togo, Benin, Cote D’Iviore, Senegal and Sierra Leone.
Attended by 60 participants, the training programme was organised by the African Cashew Initiative (ACi) in collaboration with African Cashew Alliance with support from the Ministry of Food and Agriculture and the Cocoa Research Institute of Ghana.
It was aimed at developing a pool of certified cashew experts in West Africa, with in-depth knowledge onthe cashew value chain.
Mr Adjei said the impact of cashew on poverty reduction and the environment in the Savanna regions has been significant.
He entreated investors who are interested in the cashew industry to come into the region and take advantage of the suitable land and vegetation that promote the cultivation of the highly economic crop.
Mr Siegfried Leffler, Country Director of German Development Cooperation, one of the funding agencies, said ACi has so far trained about 300,000 cashew farmers in the participating countries with increase of their annual income by 12 million Euros.
In addition, he said 20 processors in West-Africa had received technical and business advisory support in its build up phase and employing more than 5,000 people.
Mr Leffler noted that the challenges in the young African cashew sector are multiple and needed the efforts of all actors – producers, processors, buyers, governments, NGOs and expert services.
He explained that the cooperation would continue to fulfill its core business capacity development for African countries which include building individual knowledge, as well as institutional development and networking.
Ann-Christin Berger, Communication Manager, ACi said the first two sessions of the Master TrainingProgramme were successfully held in Bobo-Dioulasso, Burkina Faso in December 2013 and Bouaké, Côted’Ivoire in April 2014.
“At the heart of this comprehensive Master Training Programme are facilitators and technical experts who teach, evaluate and potentially re-design each training session according to participants’ needs,” she added.
Participants were presented with certificates after going through topics such as the economics of cashew production and cashew processing, development of improved planting material, data collection methods for proper monitoring and evaluation as well as alternative and innovative media for disseminating information and collecting data.
The Vietnam Cashew Association (Vinacas) predicts that the country’s cashew export turnover will hit US$2.2 billion this year.
Exports are expected to include 270,000 ton cashew nuts with total export turnover of US$1.8 billion, cashew shell oil and other products. Last year, cashew exports yielded $1.8 billion.
Vietnam exported 133,000 tons of cashew nuts bringing about US$847 million in the first six months, up 20.1 percent in volume and 22.1 percent in value over the same period last year, according to the Ministry of Industry and Trade.
Vinacas chairman Nguyen Duc Thanh said that Vietnam exports cashew products to 40 countries worldwide. The United States becomes the largest importer with 40 percent of Vietnam’s export volume. It is followed by European countries with 30 percent, China with 20 percent and Australia 11 percent.
Around 4.5 million cashew trees in Mozambique will this year be sprayed to prevent pests that affect cashew nut production, the director of the National Cashew Institute (INCAJU), Filomena Maiópuè said in Nampula cited by Mozambican daily newspaper Notícias.
Maiópuè, who was speaking at the launch of the National Cashew Tree Treatment Campaign said that half the trees due to be sprayed were located in Nampula province, the largest cashew production area, which provides jobs to 9,000 people, 5,000 of which are women.
The spraying operation will be carried out by 3,000 workers.
The director of INCAJU said that the government was studying the mechanisms it should be in place to set the benchmark price in Mozambique for the sale of cashews.(macauhub/MZ)
Monday, July 7, 2014
The Cashewnut Board of Tanzania (CBT) in collaboration with cashewnut stakeholders are planning to construct three new processing plants in the southern regions to cut the loss that the country incurs for exporting raw cashew.
Most of the Tanzanian raw cashew crop that accounts to about 90 per cent is exported to other countries including India as raw crop, and only a small portion of less than 10 per cent is processed internally.
This was unveiled in Dar es Salaam yesterday by the CBT Branch Manager, Tunduru District, Ruvuma Region, Ms Theofora Nyoni, at the ongoing Dar es Salaam International Trade Fair (DITF) taking place at Sabasaba grounds along Kilwa road.
“The CBT is deeply concerned and currently seeking out a way that will help cut back the loss for which farmers and the nation is incurring by exporting raw cashew,” she said.
She said by exporting raw cashew, the government is losing much needed revenues and employment opportunities which could be created in the factories and other taxes and fees.
In a bid to promote local consumption, Ms Nyoni said the CBT has embarked on promoting ‘cashew nut day’ that takes place during the Sabasaba exhibitions where people are given free cashew nuts to taste.
She said most of the large scale cashew firms are export processors, with only a few that are both processors and traders. The total installed cashew nut processing capacities for the large firms in Tanzania in 2012 was about 94,000 tonnes per season.
The country had earlier about 12 factories for processing nuts but in the 1990s all were privatised to rescue the market of raw nuts produced. Mr Nyoni said production has been on the increase with the exception of last year where it dropped to 127,000 tonnes from 158,000 tonnes produced in the year 2011/12.
This year again, production is expected to shoot up due to abundant rains that showered the giant producing southern regions. Other statistics indicate that the country used to produce over 20 per cent of global cashew in the 1970s, peaking at 145,000 tonnes in 1974, but then in 1980s collapsed to some three per cent before regaining to 158,000 tonnes in 2012.
Monday, June 30, 2014
Cashew prices fell by Rs 5 per kg in the national capital today on subdued demand from retailers and bulk consumers.
Sufficient stocks position following increased arrivals from producing belts also weighed on cashew prices.
Cashew kernel (No 180, 210, 240 and 230) prices fell Rs 5 each to settle at Rs 815-825, Rs 710-720, Rs 595-635 and Rs 515-535 per kg, respectively.
Following are today's quotations (per 40 kg):
Almond (California) Rs 17,900 Almond (Gurbandi-new) Rs 8,300-8,500; Almond (Girdhi) Rs 4,600-4,900; Abjosh Afghani Rs 8,000-22,000.
Almond Kernel (California-new) Rs 610-635 per kg, Almond Kernel (Gurbandi-new) Rs 500-540 per kg.
- Business Standard
Thursday, June 26, 2014
After a record rise in cashew kernel exports last year, exports of the commodity have seen a decline in the first two months of this financial year, owing to a shortage of raw cashew nuts. A decline in production in India and African countries led to the shortage.
For April and May this year, kernel exports stood at 15,715 tonnes, compared with 19,904 tonnes in the corresponding period last year, a decline of 21 per cent.
“The availability of raw cashew nuts was lower during the fourth quarter of last financial year; this was processed and exported in the months of April and May. Though the processors imported a higher quantity in the first two months, they faced a shortage in the preceding months. In addition, the prices of raw nuts rose significantly, adding to the cost of processors,” said Rahul Kamath, partner at Mangalore-based Bola Surendra Kamath and Sons.
He said new crop arrivals were seen only in April and due to a smaller crop this year, prices of raw cashew nuts increased about 50 per cent to Rs 100 a kg. Nuts imported from Tanzania were priced at Rs 94 a kg, which added to the processing sector’s costs. During April and May, many processing units either worked at half their capacities or were shut, Kamath said.
In value terms, exporters earned Rs 683.39 crore in April and May, 10.3 per cent lower than in the year-ago period, when their earnings stood at Rs 761.96 crore. In dollar terms, the earnings were $114.2 million, a decline of 18 per cent compared with the year-ago period’s $139.3 million. The average unit-value realisation was, however, higher at Rs 434.85 a kg, against Rs 382.82 a kg for April and May 2013.
“During the beginning of this financial year, raw cashew nuts weren’t freely available for exporters; the rupee was steady against the dollar. Some issues at the Tuticorin port resulted in a huge pile-up of trucks and led to delay in nuts exports. More, domestic prices were encouraging and the processors were happy to sell in domestic markets,” said Sasi Varma, executive director, Cashew Export Promotion Council of India.
In May, exports stood at 8,397 tonnes, against 7,318 tonnes in April. “At the beginning of the financial year, there was a slight drop in demand in consuming countries. But it is picking up now and we expect exports to pick up in the coming months. The buyers adopted a wait-and-watch policy in the first two months. Unavailability of raw cashew nuts was the main reason for decline in exports,” said Pankaj Sampath of Mumbai-based Samsons Traders said.
He said through the past six months, there was renewed demand for broken grades from buyers in the EU and the US. For 2013-14, India exported a record 113,260 tonnes, valued at Rs 4,976 crore, an all-time high.
Monday, June 23, 2014
Robust demand for cashew kernels across the globe is likely to help firm up the market, traders said. With buyers having minimum inventory, any surge in consumption is likely to lead to rally in the market. A drought in California, which produces more than 80% of the world’s almond production, is likely to lead to an increase in the demand for other nuts.
India is the world's largest consumer of cashew nuts with trade estimates of consumption ranging from 170,000 - 190,000 tonne. It is also one of the largest processor and exporter of kernels.
“Despite the substantial increase in the prices of many other nuts in the last 6 to 12 months, cashew prices have been moving within a narrow range for more than 2 years. Premium for higher grades and discount for lower grades has narrowed in the last six months. Indications are that cashew usage in the main importing countries has been increasing, probably as a result of the stable prices,” Pankaj Sampat of Mumbai-based Samsons Trading said.
“From middle of April, there has been reasonable activity in all markets, mainly for May-August shipments but some business was done for fourth quarter also. Consumption in the Indian market was steady,” he added.
Pankaj adds that continuing the trend established in the last two years, many kernel buyers have been buying for smaller spreads to take advantage of lower prices from a larger number of smaller processors who need to sell on spot basis. “But, some buyers have been paying slightly higher prices to secure supplies for longer period from larger and better organized processors,” he said.
Cashew nut exports during the last fiscal touched 1,13,260 tonne, valued at Rs 4,975.96 crore, as per the data given by data provided by the Cashew Export Promotion Council of India. The increase is 13% in terms of volume while the value has gone up by 23%.
Pratap Nair of Vijayalakshmi Cashews, who is also the ambassador of the International Nut & Dried Fruit Council (INC), feels that the consumption of cashew nuts is likely to increase with the health benefits clearly established.
“The study published in the New England Journal of Medicine found that those who regularly consumed a one-ounce daily serving of tree nuts had a 20 % lower risk of dying from any cause during the three-decade long study compared to those who did not eat nuts.
The study found that nut eaters enjoyed longer lifespan even if they did not exercise,” he added.
- The Hindu
PUTTUR (KARNATAKA), JUNE 19:
Deranna Rai, a farmer from Bettampady village in Puttur taluk, said was planning to plant rubber on a five-acre land in his village in 2010. The earth moving equipment had prepared four acres of land for this purpose.
Then he met scientists from the Directorate. They persuaded him to take up ultra-high density cashew planting in the remaining one acre.
Accepting the suggestion, he planted around 440 cashew plants on an acre of land that year. (In the ultra-high density method, 440 plants are planted with a spacing of 3 metres x 3 metres on an acre of land. In the traditional system, 60-65 plants are planted on an acre of land, and the harvesting starts from the third year in this system.)
In the first year, Rai got around 0.75 kg of raw cashew nuts a tree amounting to 330 kg an acre. After three years of planting, he harvested around 2 kg of raw cashew nuts a tree, amounting to around 800 kg from an acre of plantation. “After deducting all the expenses, my net profit is ₹40,000 from cashew alone this year,” he said, adding that now he feels he should have planted cashew in the remaining land then.
Deranna Rai is among three farmers, including a woman, who heed to the suggestions of the scientists to take up ultra-high density and high density cashew farming a few years ago. Today they are happy as they get good productivity from their farms.
The success stories were narrated at a farmers’ meet organised by the Puttur-based Directorate of Cashew Research as part of its Foundation Day on Wednesday.
Satyabhama , the successful woman from Manchi village of Bantwal taluk in Dakshina Kannada district, said she followed ultra-high density planting with 440 plants on an acre of land three years ago. She got around one kg a tree from the second year of planting itself. Now she is harvesting around 1,100 kg of raw cashew nuts. Satyabhama uses cow dung in her plantation.
Vittappa, a farmer from Honnali taluk of Davangere district, said that he took up high-density cashew planting with a spacing of 5 metres x 5 metres on 1.25 hectares of land in 2004. Around 500 plants were planted then, and the fruit-bearing started in 2006.
He said that yield has gradually increased from 1 kg of raw cashew nuts a tree to 9 kg a tree since then.
In 2014, he got a profit of ₹720 a tree at the rate of ₹80 a kg for raw cashew nuts. After deducting all expenses, he earned a profit of ₹2 lakh a hectare, he added.
PL Saroj, Director of Directorate of Cashew Research, said that there is good scope for ultra-high density cashew farming as the domestic demand for cashew nut exceeds the production.
Thursday, June 5, 2014
THE government has reaffirmed its commitment in supporting cashew growers in Southern regions to sell processed crops by reviving ailing plants, a move targeted at increasing farmers incomes.
The commitment was made in the august house by the Deputy Minister for Agriculture, Food and Cooperatives, Godfrey Zambi, when responding to a supplementary question by Salum Barwany (Lindi urban-CUF) who wanted to know government plans to revive cashew processing plants in Lindi Region.
He said the government’s intention for reviving the cashew processing plants was to create employment and enable farmers sell processed crop at higher prices but the objective was yet to be attained given the fact that the plants were yet to be revived.
The legislator also asked the government to repossess the privatized plants which have remained idle for a long time. In reply, the deputy minister admitted that most of the plants were not in good condition, hence prompted the government to establish a committee to determine the plants status and operations of the factories.
We have identified four industries, and plans for reviving them is on pipeline, he said adding more will be constructed upon availability of financial resources.
He also urged investors and other stakeholders to increase the number of processing plants for co-operative societies and unions. Earlier, in his basic question, the MP wanted the government to explain total costs spent in construction of a cashewnut plant in Lindi.
Mr Zambi, said the Lindi cashewnut plant was constructed in 1977, it was one among eight factories that was funded by the 93.2m/- loans from World Bank.
He said the loan was spent in construction of cashewnut processing plants in Lindi, Mtama, Nachingwea, Masasi, Newala One, Newala Two, Likombe and Kibaha. Zambi said due to various challenges, namely lack of capital, poor management of cashewnut factories including Lindi plant, halted operations in 1996.
He said the industries were put under the then Parastatal Sector Re- form Commission (PSRC) for privatization. Statistics show at present, more than 70 per cent of cashew nuts grown mostly in the country’s coastal regions is exported in raw form.
Over the past four decades, Tanzanian cashew production had shown drastic drop down to 17,000 tons. However, due to concerted efforts made in mobilizing cashew farmers, between 1990 and 1991 and 1999 and 2000, cashew production increased nine-fold from 17,000 tonnes to 106,500.
Monday, June 2, 2014
MANGALORE: The African Cashew Alliance, an association of African and international businesses with an interest in promoting a globally competitive African cashew industry, is likely to pose a threat to the cashew industry in the state. For, African nations are encouraging their rapidly growing cashew industry.
Prakash Kalbavi, former president of Karnataka Cashew Manufacturers' Association (KCMA), says East and West Africa, supported by the African Cashew Alliance, has been committed to establishing cashew processing units in a big way. Already, huge plants with capacities of 15,000 to 20,000 metric tonnes (MT) per annum have come up in West Africa and the trend is very discouraging for us, he pointed out. "We are sure that at this rate, the industry will suffer a shortage of raw material and will die a natural death like two other traditional industries - beedi and tile,'' warns Kalbavi.
The growth in terms of export has been propelled by huge imports cashew manufacturers here are resorting to from East and West Africa, which is close to 1.25 lakh MT as against the requirement of 2 lakh MT. The cashew industry also sources over 40,000 MT from neighbouring states of Kerala, Goa and Maharashtra.
Kalbavi says the state's share in the national export of cashew was a meagre 6%, at about Rs 150 crore, seven to eight years ago. But today, it is at 40%, at Rs 1,000 crore. "Our contribution will amount to Rs 2,000 crore in five years if the industry gets the right impetus from the government. We can become the cashew state of this country if we can take our raw cashew production from the existing 40,000 MT to 2 lakh MT in the next seven to eight years," he contends.
The industry has urged the intervention of the state government. In a letter to K Rathna Prabha, additional chief secretary of the department of commerce and industry, manufacturers requested a meeting with all agencies concerned to bring out a cashew policy for the state, and also lay a roadmap to increase seed production and for sustainable growth.
- India Times
Cashew production in Ivory Coast, the world’s second-biggest producer, will climb 4.2 percent this year, according to the industry’s regulator.
Production will be 500,000 metric tons compared with 480,000 tons last year, Malamine Sanogo, general director of the Cotton-Cashew Council, said in a May 28 interview. About 450,000 farmers grow the nut in the country.
A drought in some growing regions during the second flowering in late March cut yields and lowered the production potential, Sanogo said. The nuts are harvested from January to June, with a main crop running from January to April. India is the world’s largest producer.
Smuggling into neigboring countries, such as Burkina Faso and Ghana, dropped this year to about 5,000 tons from as much as 80,000 tons last year, Sanogo said.“The border controls have been reinforced,” Sanogo said. “There is a political will to tackle this problem.”
Ivory Coast decided earlier this month to maintain the farmgate price at 225 CFA francs (46 U.S. cents) a kilogram (2.2 pounds) for the small crop. The Cotton-Cashew Council was set up last year to regulate the sector and assist farmers, Sanogo said.
The West African nation also aims to process 80 percent of its cashew production by 2020. Ivory Coast has a processing capacity of 60,000 tons a year, Sanogo said.