Cashew Boom Draws Global Agro-Industry Giants to Ivory Coast
TLDR
- Ivory Coast, the world’s top producer of raw cashew nuts, is attracting major international agribusiness investors as it shifts from raw exports to local processing
- Output is forecast to reach 1.2 million tons in 2025—up from 565,000 tons in 2014—yet only 30% of nuts were processed domestically
- To accelerate industrialization, the Cotton and Cashew Council (CCA) has offered tax incentives and early purchasing access to processors
Ivory Coast, the world’s top producer of raw cashew nuts, is attracting major international agribusiness investors as it shifts from raw exports to local processing. Output is forecast to reach 1.2 million tons in 2025—up from 565,000 tons in 2014—yet only 30% of nuts were processed domestically last year. The government aims to increase this to 50% by 2030.
To accelerate industrialization, the Cotton and Cashew Council (CCA) has offered tax incentives and early purchasing access to processors. Major investors include Singapore’s Valency International, which launched a 14-hectare site near Abidjan, and Royal Nuts PTE’s Dorado Ivory, which operates a 70,000-ton facility.
The Emirati Al Sayegh Group invested €22 million in a northern plant employing 2,000 people. Olam, an early mover, now runs four Ivorian processing plants. India’s Arise IIP is developing a 429-hectare agro-industrial zone near Abidjan. Local cooperative Coopares, the country’s top raw exporter, is now eyeing downstream investment.
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Key Takeaways
Ivory Coast is rapidly transitioning from exporting raw cashews to becoming a regional processing hub, aiming to boost local value addition and job creation. Global players from Singapore, the UAE, and India are leading investment into large-scale processing complexes, encouraged by government incentives and rising global demand. The country’s midstream strategy mirrors the success of Vietnam and India, which dominate global kernel exports. While international firms enjoy financing advantages and economies of scale, local players like Coopares may soon enter the processing space, signaling a shift in domestic industry participation. The government targets 50% of cashew processing by 2030, with projected processing capacity reaching 730,000 tons by end-2025. Although productivity remains a challenge—yields are lower than in Asia—improved seed varieties and a higher farmgate price aim to close the gap. If successful, the cashew sector could become Ivory Coast’s second agricultural “miracle,” following the global dominance it achieved in cocoa.
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