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Cote D'ivoire officials condemn cashew smuggling

Cote d'Ivoire is the world's number one cashew producer, notwithstanding a drop in 2016 production due to poor weather. Now however, local cashew nut producers are unhappy over the government's set producer price of USD0.71/kg1 as against the sought after USD0.96kg – leading to substantial smuggling across the border.

This is a long-term issue for the country. In 2016, an estimated 100,000 tons of cashew nut were smuggled to neighbouring countries, including Ghana, where the the buying price was US$1.53/kg as opposed to US$0.56/kg2 in Cote d'Ivoire.

The calls for a halt to smuggling came from the secretary of the Fédération nationale des acheteurs d'anacarde et de coopératives de cajou de Côte d'Ivoire (FENACACI), Abdoulaye Sanogo. He said that the activity "weakens the sector because the state is unable to collect its DUS [taxes] which leads to unfair competition.".

source: mondaq.com
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