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  • Mozambique: Cashew price drops to US$0.55 per kilogram 10/03/2023

    Oct 3rd, 2023

    The official price for a kilogram of cashew nuts in Mozambique fell from 37 meticais (58 US dollar cents) to 35 meticais (55 cents) for the 2023-2024 marketing year, the committee responsible for regulating the sector has announced. The deputy minister of Agriculture and Rural Development, Olegário Banze, quoted today by Notícias, the country’s largest daily, said that the fixed price guarantees “balance throughout the nut production chain so that there are no segments [especially] harmed”. “In order for prices not to be always dictated from the outside, it is necessary to create a more robust scenario internally that allows the national market to impose its prices, which involves increasing production and guaranteeing the processing of cashew nuts at a domestic level,” Banze emphasised. Cashew nut production is a source of income for thousands of families in Mozambique, mainly in the north of the country. According to AIM news agency, India and Vietnam are currently Mozambique’s main export destinations for cashews, and, therefore have the greatest influence on prices in the market.