Senegal develops strategy for cashew nut sector development

Senegal’s National Strategy Implementation Committee yesterday released the Strategic Plan for the Revitalization of the Cashew Nut Sector and the Manual for the Synergistic Development of the Cashew Nut Industry Chain, the daily newspaper reported on December 7. The two documents provide a master plan for the development of the cashew nut industry in Senegal, with the ultimate goal of improving cashew nut production, product quality and added value. According to official Serbian statistics, from 2018-2021, Serbian cumulative cashew exports amounted to 82,000 tons of cashew nuts for 54 billion CFA francs (about USD 0.9 billion). As the industry is mainly controlled by Indian and Vietnamese businessmen, only 2% of cashew nuts get processed locally, leaving only 3% of the output value of the final product locally. The Serbian government hopes to strongly encourage enterprises to invest in the development of the local cashew nut processing industry to keep more of the added value of the product locally and provide related employment opportunities.

Source: Economic and Commercial Section of the Embassy in the Republic of Senegal

Post time: Dec-22-2022