Ivory Coast Raises Raw Cashew Production Target

09-May-2025 12:19 PM

Ivory Coast Raises Raw Cashew Production Target
★ Ivory Coast has increased its raw cashew production target for this year from 1.15 million metric tons to 1.3 million metric tons.
★ The country is one of the world's leading exporters of raw cashew nuts. In 2023, it exported 849,250 metric tons of cashews, with India and Vietnam being the main buyers.
★ One key reason for the production increase is the crackdown on cashew smuggling to neighboring countries like Ghana and Burkina Faso.
★ However, exports have taken a major hit. Vietnam, which usually buys around 80% of Ivory Coast’s raw cashew output, has purchased only 200,000 tons this year—down from 700,000 to 800,000 tons last year.
★ Vietnam processes a large portion of these cashews and re-exports around 60% to the United States. But proposed U.S. tariffs of 21% on Ivorian goods have cast a shadow over exports.
★ Although the U.S. has paused these tariffs for 90 days, an interim duty of 10% remains in effect.
★ Cashew prices have fallen sharply from 425 CFA francs (around Rs. 61) per kilogram to 200 CFA francs (around Rs. 29) per kilogram.
★ Approximately 200,000 tons of raw cashews remain unsold with producers.
★ On the positive side, local buyers have already purchased 650,000 tons of raw cashews this year—more than double the 300,000 tons purchased last year.