Booming: the cashew sector in Côte d’Ivoire

There are several factors that are favoring the production and processing of cashew nuts in the Ivory Coast, which are gaining importance and strength in the country.

 

One of the most recent investments: the Singapore-based Valencia International Trading CIV group recently secured Norwegian and Finnish funding with the aim of increasing cashew processing capacity. On April 21, 10 million dollars (6 million CFA francs) was awarded to a cashew nut processing plant project by Valency, one of five West African subsidiaries in the Singapore group.

The objective of this investment is to allow the construction on the outskirts of Abidjan of an integrated local processing center, with a capacity of more than 45,000 tons per year. Thanks to this center, the creation of approximately 2,000 new jobs is expected.

The entity that has made this financing possible, Nordfund, is not stagnant in the cashew sector: it states that it wants to continue investing in agribusiness, as well as renewable energies, financial institutions and ecological infrastructure in Côte d’Ivoire.

So we can expect a strong and booming cashew sector in Côte d’Ivoire for the next few years. Currently, the country is in third place in the list of the largest cashew exporting countries, followed by Vietnam and India.