Ivory Coast has set the minimum farmgate price for raw cashew nuts at 400 CFA francs per kilogram for the 2026 season, marking a 6% decline from the CFA425 applied during the previous campaign. The announcement was made by Agriculture and Sustainable Development Minister Bruno Nabagné Koné on February 6.
The price cut is attributed to a downturn in international markets, compounded by additional U.S. tariffs on agricultural imports imposed between August and November 2025, which affected cashew exports. Authorities flagged uncertainty over a potential rebound in U.S. demand in 2026, despite the removal of these tariffs.
Minister Koné emphasized that the farmgate price is a protective measure to safeguard farmers’ incomes while ensuring the full marketing of national output. He also indicated that an upward revision remains possible if international market conditions improve, following precedent in previous campaigns.
Data from Ivory Coast’s General Directorate of Customs show that the United States was the third-largest destination for Ivorian cashew kernel exports in 2024, accounting for CFA29.3 billion ($52.7 million), or 11.8% of total export revenues, behind Vietnam and the Netherlands. Analysts caution that renewed U.S. demand drops could trigger broader market disruptions.
Across West Africa, lower farmgate prices are becoming a regional trend. In December 2025, Ghana set its minimum price at 12 cedis ($1.04) per kilogram, a 20% decline from the previous season. Upcoming campaigns in Benin, Nigeria, and Guinea-Bissau will indicate whether further regional adjustments are likely.
Despite lower prices for raw nuts, processor activity in West Africa remains robust. Processing volumes rose 51% in 2025, reaching 732,000 tonnes, with Ivory Coast alone processing 600,000 tonnes, or 81% of the regional total, according to commodities advisory firm N’Kalô.
The move underscores the delicate balance between supporting farmers’ incomes and maintaining competitive export positioning amid fluctuating global demand.
