Deployed for the first time in February 2019. The 2020 campaign takes place during the time when the Covid19 epidemic has a strong impact on the raw cashew market in Asia, especially Vietnam and India. International companies have reduced their procurement of raw materials due to concerns about the disruption of national economic activities. India alone has ordered a nationwide blockade within 2 months to cope with the disease, which has strongly affected the raw cashew demand of these two largest processing countries.
Ivory Coast government has disbursed 300 billion FCFA (around 500 millions usd) to support the agricultural sector. So far, according to a GIE official, the state has allocated money to them to buy 200,000 tons of cashew nuts, and the Union now has collected 120,000 tons at the approved price.
Earlier, the Director General of the Ivory Coast Cotton and Cashew Council (CCA), Mr. Amadar Coulibaly, expressed his dissatisfaction with exporters' failure to comply with minimum prices. Meanwhile, some producer association officials have asked the government to conduct an audit of exporters' compliance with minimum prices in 2017, 2018 and 2019 seasons. The President and The Prime Minister also pay special attention and follow up closely to this issue.
Ivory Coast is the largest cashew production country in the world with an annual output of about 800,000 - 850,000 tons. This is an important agricultural sector that is of special interest to the government. Every year, the Cotton and Article Council calculates and imposes floor prices and export duties on these key export items.
HUANG - ASIAFRICOM NEWS
