Published on : Saturday, April 20, 2019
Last year, the industry generated more than $400 million worth of business, hoping to ‘‘get products right to tap into the growing markets out of Africa’‘.
Benin is hoping cash in on increased cashew production for growth. Like other cashew producers, the West African nation exports the commodity to India, which dominates the global cashew market.
As one of the main producers in Africa, Benin has started adding value to the commodity to generate more money for the local economy.
When processed, the value increases from $5,300 per ton to about $9,000, according to the agricultural statistics firm Planetoscope.