Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Guinea Bissau Cashew-Nut Farmers Say Liberalization Plan

May 31 (Bloomberg) -- The liberalization of the cashew-industry in Guinea Bissau, Africa’s second-biggest grower, has failed and caused smuggling to neighboring countries, the head of the farmers organization said.

The government didn’t set a minimum price and the nuts are now trading for between 125 CFA francs ($0.25) and 150 CFA francs per kilogram, down from as much as 400 francs a year ago, Mama Samba Embalo, president of the National Farmers Union, said in an interview yesterday.

Many farmers smuggle their crop to neighboring Senegal where prices are between 300 and 350 CFA francs, he said.

“If the government cannot create local conditions for farmers to sell their cashew nuts, I do not see the reason why the farmers should be denied the choice of selling their cashew in good prices beyond the borders,” he said. “It’s a tough stance.”

Exports of the nuts fell to 125,000 metric tons in 2012 from 170,000 the year earlier.

To contact the reporter on this story: Caramo Cassama in Johannesburg at ccassam@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.