![]() ![]() Exporters in Cote d'Ivoire have an obligation to reserve at least 15% of their RCN volumes. Benin and Cote d'Ivoire also have import tax exemptions on cashew nut processing machinery. Moreover, export tax exemptions for RCKs are also favourable to the growth of the market. Policies pertaining to government investment promotion which can reportedly include tax-free industrial areas as exemplified by 'points francs industriels' in Benin, tax exemptions for the first years of operations, which vary from 5 to 8 years by country, leasing of land in dedicated industrial zones, and including access to utilities as it is the case in Cote d'Ivoire. Other policies that are conducive to local cashew processing in the west African nations includes an indicative minimum price for RCN at the start of the buying season which reportedly sets the bar for influence selling and buying behaviour. In 2017, Benin too had reportedly put an export tax of FCFA 10 per kg of RCN. FCFA 10 per kg of RCN to support critical functions pertaining to the sector. This is an addition to the existing export levies i.e. That is in 2015 the country has reportedly introduced an export tax of FCFA 30 per kg of raw cashew nuts (RCN) and since 2016 the industries engaged in local processing have been supported by subsidies derived from the funds from this tax, at the rate of FCFA 400 per kg of exported raw cashew kernel (RCK). For instance, the policies laid out by West African nations like that of the elaborate cashew sector intervention policies that have been put in place by Cote d'Ivoire. Several government policies and international initiative are expected to drive the cashew kernel market around the world during the forecast period. ![]() Moreover, the use of cashew nuts as snacks, in breakfast cereals and for production of various functional food is expected to further bolster the cashew kernel market. ![]() In view of above, and based on the increasing consumer inclination to consume healthy food the European cashew kernel market is expected to be driven by robust growth. In Italy, the production of pesto requires the consumption of pine nuts to be substituted by comparatively cheaper alternatives and cashew nuts is one of them. The Netherlands is also the leading European re-exporter with cashew nuts, among others being the top re-exported products. Nevertheless, in Europe Germany is the largest European importer and market of cashew nuts. Imports of cashew nuts reportedly reached a zenith during 2017 but with supply outperforming demand to a certain extent and sales from 2017 stock being enough to meet demand in the forts half of 2018 collectively led to the drop in import value. Īccording to Ministerie van Landbouw, Natuur en Voedselkwaliteit which is the Dutch Ministry responsible for agricultural policy, animal welfare, fisheries, food policy, food safety, forestry and natural conservation, prices of cashew nuts collapsed in 2018 resulting in the decrease in import value. the USA registered an import of 153448 tons and Germany registered an import of 53922 tons. However, these figures are relatively lower than what was registered against each of the importing nations in 2017 mentioned above, Viz. The USA (152591 tons), Germany (47646 tons), Netherlands (45889 tons), United Arab Emirates (21482 tons), United Kingdom (20917 tons) were among the top importing countries of the world based on the Import quantity of shelled cashew nuts imported as of 2018. ![]() The global cashew kernel market is expected to grow at a compound annual growth rate of 4.27% over the forecast period to reach a market size of US$6.932 billion in 2025 from US$5.394 billion in 2019. 12, 2021 (GLOBE NEWSWIRE) - The "Cashew Kernel Market - Forecasts from 2020 to 2025" report has been added to 's offering. ![]()
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