How much cashew processing capacity will Ivory Coast have by 2022?
Ivory Coast is aiming for an installed processing capacity of 413,000 tons of nuts by 2022 against 330,000 tons a year early. This will be made possible as players such as Valency International Trading SARL (Valency CIV), recently received US$20m from Norfund and Finnfund to build an integrated local cashew processing hub in the country.
Can a cashew processing company run a profitable business in Côte d’Ivoire?
Last year, Singapore’s Robust International received funding to expand its cashew processing activities in Côte d’Ivoire. While there are opportunities for local value addition, running a profitable cashew processing venture is easier said than done, which explains why many prefer to focus on trading rather than operating a factory.
Does Cote d’Ivoire have a cashew processing plant?
The decision comes two years after the company secured US$20m in credit from Finnfund and Norfund – the two development finance institutions of Finland and Norway, respectively, to establish a cashew processing plant in Côte d’Ivoire with an annual capacity of 45,000 tonnes. Cote d’Ivoire plans to export 50% of its total production by 2026.
Will Cote d’Ivoire export 50% of its cashew production by 2026?
Cote d’Ivoire plans to export 50% of its total production by 2026. Cote d’Ivoire has emerged as a leading cashew producer with output expected to hit almost 1 million tonnes this season. Although most of the cashew harvest is exported raw to processing hubs overseas, an increasing share of production is now starting to get processed in West Africa.