Cashews to boost the economy of Mozambique

8/1/2018 8:14:55 AM

Mozambique is banking on cashew nuts to boost the country’s economy. After a long period of civil war and economic headwinds, the government is seeking to revive the industry that produces the curved, nutrient-packed nut.

With an output of just 140,000 tonnes per annum, Mozambique is still a relatively small producer. But the country has big ambitions when it comes to nuts. Mail&Guardian quotes Prime Minister Carlos Agostinho do Rosario of Mozambique, saying that “the productivity of the cashew trees is increasing and our plans are, in the near future, to reach the historic level of 200,000 tonnes of nuts a year.” In Mozambique, cashew nuts are currently one of the crops that fuel growth in the agricultural sector. Almost half of the raw products are now processed locally.

Cashew nuts have become very popular in western markets over the years, because of their health benefits. Since 2010, cashew consumption has increased greatly in Europe. Worldwide, three million tonnes are harvested every year. Africa’s largest producer is Ivory Coast, that produces just 725,000 tonnes, followed by India and Vietnam.

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Mozambique is to be Africa’s fastest growing market for individuals with a net worth of $1 million or more, according to the Africa 2015 Wealth Report.