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  • Guinea-Bissau: the Indian company Beta Group will invest $100 million in the cashew sector 11/28/2022

    Nov 28th, 2022

    In West Africa, the cashew processing sector has been changing for several years. While Côte d'Ivoire is the main engine of regional industry, other suppliers in the area are trying to follow the trend. The Indian conglomerate Beta Group indicated on November 15 that it intended to make an investment worth $100 million in the cashew industry in Guinea-Bissau. According to Rajmohan Pillai, president of the multinational, this approach should be ratified soon by the signing of a Memorandum of Understanding (MoU) for a period of 5 years. It will see the group set up an industrial complex in the West African country which will source its supplies locally and process the raw material on site for major consumer markets such as the USA and China. It should be noted that Beta Group already has some experience in the Bissau-Guinean cashew sector thanks to its subsidiary Nabissco Commodities, which has already been supplying raw materials locally for several years. This project comes a month after the announcement by the Chinese company Grupo Human of its intention to buy almost all of the country's cashew nut harvest and subsequently build processing units on site. For the local industry, these various initiatives should contribute to improving the added value of the sector and improving the country's revenue, whose international sales of agricultural products remain limited to cashew nuts alone. As a reminder, Guinea Bissau exported around 230,000 tonnes of the raw material in 2021, mainly to India, Vietnam and China, according to data from the independent business advisory service Nkâlo.