{"id":34568,"date":"2022-02-13T10:53:48","date_gmt":"2022-02-13T03:53:48","guid":{"rendered":"https:\/\/kimmyfarm.com\/west-africas-cashew-industry-benefits-from-a-60-million-u-s-backed-project"},"modified":"2022-02-13T10:53:48","modified_gmt":"2022-02-13T03:53:48","slug":"west-africas-cashew-industry-benefits-from-a-60-million-u-s-backed-project","status":"publish","type":"post","link":"https:\/\/kimmyfarm.com\/en\/west-africas-cashew-industry-benefits-from-a-60-million-u-s-backed-project","title":{"rendered":"West Africa\u2019s Cashew Industry Benefits from a $60 Million U.S.-Backed Project"},"content":{"rendered":"

The cashew industry in several West African countries, including Ivory Coast, Ghana, and Nigeria<\/em>, is receiving strong support from a $60 million project backed by the United States<\/strong>. The project aims to help local cashew factories and processing facilities grow more sustainably and operate more efficiently.<\/p>\n

=> Related article:<\/strong> Nigeria Works with Farmers to Revive Cashew Plantations<\/a><\/p>\n

The Prosper Cashew Project<\/h2>\n

The Prosper Cashew Project<\/strong>, led by the nonprofit organization TechnoServe with support from the U.S. Department of Agriculture<\/strong>, will establish a funding mechanism to strengthen the commercial capacity of the cashew processing sector in Ivory Coast, Ghana, and Nigeria.<\/p>\n

Launched in October 2020, the project was designed to act as a catalyst for the West African cashew industry<\/strong>. It provides technical support, industry knowledge, and business assistance to strengthen existing processing facilities, revive struggling factories, and improve access to the working capital needed for local processors to operate more smoothly.<\/p>\n

\"The

The Prosper Cashew Project<\/strong>, led by TechnoServe with support from the U.S. Department of Agriculture, aims to support the cashew industry in West African countries.<\/p><\/div>\n

West African Countries Account for 45% of the World\u2019s Raw Cashew Nuts<\/h2>\n

West African countries<\/strong> are among the world\u2019s leading cashew producers, accounting for more than 45% of the raw cashew nuts harvested globally<\/strong> each year.<\/p>\n

However, less than 10%<\/strong> of raw cashew nuts are processed within West African countries. Most of the crop is exported to Asia, where it is processed before being shipped to consumer markets around the world.<\/p>\n

At the project launch ceremony, Adama Coulibaly<\/strong>, Director General of Ivory Coast\u2019s Cotton and Cashew Council, shared that processing \u201cremains our biggest challenge, but the government is working hard to change this.\u201d<\/strong><\/em><\/p>\n

=> Read more: <\/strong>Farmforte Opens a Cashew Processing Factory in Edo, Nigeria<\/a><\/p>\n

\"West

West African countries<\/strong> are among the world\u2019s largest cashew producers, accounting for more than 45% of global raw cashew nut production<\/strong>.<\/p><\/div>\n

Aiming to Process Half of Raw Cashew Production<\/h2>\n

Adama Coulibaly added: \u201cWe are aiming to process around half of our production by 2025. This goal will become less difficult thanks to support from partners from the United States.\u201d<\/strong><\/em><\/p>\n

Krishanu Chakravarty<\/strong>, Prosper Cashew\u2019s project director in Abidjan, said that around 75% of the project\u2019s activities would take place in Ivory Coast<\/strong>. \u201cTherefore, 75% of the funds will be disbursed in Ivory Coast, because this is a major cashew-growing country and provides a favorable environment for the project to move forward,\u201d Chakravarty said.<\/p>\n

Over the next five years, TechnoServe said Prosper Cashew<\/strong> would improve the capacity of 60 processors sourcing cashews from about 34,000 farmers. The project is expected to help facilitate $497 million in investment<\/strong> in the cashew sector and generate around $1.5 billion in cashew kernel revenue<\/strong>.<\/p>\n

=> Read more: <\/strong>Dekel Agri-Vision Establishes a Cashew Factory in Ivory Coast<\/a><\/p>\n

\"Prosper

Prosper Cashew\u2019s project director in Abidjan said that around 75% of the project\u2019s activities would take place in Ivory Coast.<\/p><\/div>\n