The market for cashews in Africa is estimated to grow at a CAGR of 4.5% in terms of production for the forecast period of 2020-2025. The country of Côte d’Ivoire is known for registering the highest production of more than 35% followed by Benin, Tanzania, and Guinea-Bissau at 11%, 10%, and 9% respectively. Ghana is the largest importer of cashews in Africa accounting for almost 80% of the imports while at 36%, Côte d’Ivoire leads in terms of exports.
Key Market Trends
Côte d’Ivoire Leads the Cashew Market
In Africa, Côte d’Ivoire, the country that is leading the cashew market has been experiencing a continuous increase in production of cashews for the past five years and it is estimated that production will go up by about 7% in the forecast period of the report.
An average cashew plant starts bearing fruits only after 4-5 years after plantation and it's productivity tends to start declining after 15 years of age when old trees are replaced with younger ones. In Côte d’Ivoire, most cashew trees are relatively young with higher yields, with more than 10% of the acreage being less than 10 years in age. The acreage is further expanding with improved and advanced varieties bring planted every year. Owing to higher productions, Côte d’Ivoire is also the highest exporter of cashews in Africa.
Increasing Acreage Under Cashew in Africa
The area under cultivation of cashew in Africa has seen an increasing trend since the past 5 years. In 2018, as per FAO, 1,6,45,902 hectares of land were under the cultivation of cashew and it is estimated that the area under cultivation of cashew is going to increase at a CAGR of 4.5% in the forecast period of the report. The deep, well-drained sandy or sandy-loam soil in most parts of Africa is suitable for the cultivation of cashew and hence, it is driving the production in this region.
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