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  • Burkina/Cashew sector: The floor price of raw cashew nuts set at 310 CFA francs/kg for the 2024 campaign 02/18/2024

    Feb 18th, 2024

    The farm-gate floor price of raw cashew nuts is set at 310 CFA F/kg in Burkina Faso, for the 2024 marketing campaign. The announcement was made by the Minister in charge of Trade, Serge Poda, this Saturday, February 17, 2024. It was during the launch ceremony of the 2024 marketing campaign held in Bobo-Dioulasso. This price is up 10 CFA francs compared to the 2023 campaign. This 9th edition of the raw cashew nut marketing campaign is being held under the theme “For increased resilience in rural areas, let us commit to promoting the cashew sector”. The official launch ceremony of this 2024 campaign took place under the patronage of the ministers in charge of Commerce, Serge Poda, and that of Agriculture, Ismaël Sombié. This ceremony aimed to inform all direct and indirect stakeholders in the cashew sector of the start of the marketing campaign in Burkina Faso. Participants in the launch ceremony of the 2024 marketing campaign Also, it made it possible to announce the measures relating to the marketing campaign for 2024, to respond to the concerns of stakeholders on the theme of the year, but also to increase the visibility of the cashew nut sector in Burkina. Faso and to strengthen functional links between actors in the sector and their partners. Thus, during this ceremony, the minimum farm gate price of raw cashew nuts was announced at 310 CFA francs per kilogram, based on the KOR 45 quality standard. This minimum price will regulate the marketing of raw cashew nuts. in Burkina Faso during the 2024 campaign. This minimum farm gate price represents the price below which producers cannot sell their raw nuts. This price is up 10 CFA francs compared to the 2023 campaign. The president of the CIAB, Ibrahim Sanfo, reaffirms the resilience of actors in the sector in the face of the situation in the country It was determined following numerous consultations between direct stakeholders in the sector, gathered within the Interprofessional Cashew Committee of Burkina Faso (CIAB), as well as with the regulatory authority, the Burkinabè Council of cashew (CBA). Indeed, each year, Burkina Faso sets a farm-gate floor price for raw cashew nuts, which regulates the sale and purchase of this product, which is essential to the country's economy. According to stakeholders, this price reflects a balance between the interests of producers and those of processors and traders while guaranteeing good quality of Burkinabè cashew nuts intended for export. “This floor price is also a guarantee of quality for Burkinabè cashew nuts. By setting a quality standard (KOR 45), it encourages producers to respect high standards of production and processing of nuts. This helps to maintain the reputation of Burkinabè cashew nuts on international markets and to satisfy customer requirements in terms of quality,” explained the president of the Interprofessional Cashew Committee of Burkina Faso, Ibrahim Sanfo. In his speech, he emphasized the challenges the sector is currently facing. While requesting the support of the country's authorities as well as all the actors involved in the value chain of the sector for the smooth running of the campaign, particularly in areas with strong security challenges. Signing of the agreement between the CIAB and NITIDAE For Ibrahim Sanfo, the choice of this year's theme is not accidental. “This theme reflects our firm desire to strengthen our capacity to face climate change, but also to increase our competitiveness and promote a more robust and sustainable sector,” he suggested. Before inviting all players in the sector to respect the announced price. “We attach importance to respecting the announced price. This minimum price is to guarantee the development of the sector. It is a price which allows the producer to be able to make his costs profitable,” he underlined. This launch ceremony of the 2024 campaign was organized by the Interprofessional Cashew Committee of Burkina (CIAB) and its links, with the support of the Burkinabè Cashew Council (CBA). It was attended by the ministers in charge of Industrial Development, Commerce, Crafts, Small and Medium Enterprises, and that of Agriculture, Animal and Fisheries Resources. In his speech, the Minister of Commerce, Serge Poda, recalled the place occupied by the cashew sector in the country's economy. Minister Serge Poda invites all stakeholders to respect the floor price According to him, the cashew nut, considered a perennial crop, remains a promising sector with strong potential for job creation, wealth and the fight against poverty in Burkina Faso. Indeed, cashew nuts are the country's third agricultural export product, after cotton and sesame. “The sector thus occupies a place of choice in the national economy with an annual production capacity which exceeds 200,000 tonnes. Cashew ranks third among the top ten export products. It employs many people across the entire chain: production, processing and marketing. This is why it was more than important for us to sponsor this launch ceremony,” said the minister. The family photo at the end of the campaign launch ceremony As for the price he announced, he affirmed that it is an amount which encourages the producer and which allows all the actors to do well. This is why he appeals to all the actors to respect of the floor price. To ensure compliance by stakeholders, actions will be carried out on the ground by the control services, in particular by the Mobile Economic Control and Fraud Repression Brigade. Also, the regional directorates in charge of trade and agriculture will be called upon to enforce this price throughout the territory. In addition, numbers are operational for cases of denunciation. These are 80 00 11 84 and 80 00 11 85 for the city of Ouagadougou; and 80 00 11 86 for Bobo-Dioulasso. The symbolic delivery of equipment to direct stakeholders in the sector by the CBA He took the opportunity to reiterate the availability of the Burkinabe government through the CBA to fully play its part for the development of the cashew value chain. Hence a delivery of materials, through the CBA, to direct players in the cashew sector. During this ceremony, the CIAB and NITIDAE signed a partnership agreement. After giving the start of the campaign, the officials visited the exhibition stands which present the know-how of the players in the cashew nut and derivative products.