Benin fixes buying price for cashew nuts at 0.3 USD

COTONOU, March 4 (Xinhua) -- Benin's government and stakeholders in the cashew nut industry have decided to sell a kg cashew nuts at 200 CFA Francs (30 U. S. cents) during the 2013- 2014 season, an official source said on Monday.

In a statement sent to Xinhua, the director in the Ministry of Trade, Adam Ahantchede, said more than 100,000 tons of cashew nuts will be produced this year.

A study conducted recently by the Agriculture Ministry revealed that cashew nuts represent the second agricultural export product.

The study found that the export of cashew nuts from Benin to the international market, especially towards China, Indonesia, Vietnam and the European Union, has increased greatly in the recent years, moving from 19,174 tons in 1997 to 69,357 tons in 2006.