Togo to focus on cashew processing to boost the sector

Economic governance
Monday, 02 September 2019 13:14
Togo to focus on cashew processing to boost the sector

(Togo First) - Togo intends to focus on cashew processing to boost the performances of this sector and related exports.

In this regard, last Wednesday, President Faure Gnassingbé discussed with top management of Japanese firm Export Trading Group to set up in Togo an industrial cashew processing plant.

According to credible sources, the Asian firm will help local authorities set up the infrastructure. “This plant’s installation should create jobs and wealth, and this will be a major milestone in the country’s strategy to process cashew nuts and develop the sector,” experts said.

Export Trading Group, it should be noted, has been operating in Togo for 10 years, knowingly in the sectors of coffee, cocoa and leguminous crops. The new move between the two parties follows a tax implemented in October 2018, whereby respectively XOF5 and XOF45 were levied on a kilogram of processed and raw cashew. Just like the plant’s project, this tax aimed at strengthening the industry.

This year, Togo eyes a cashew output of 24,000 Mt which it plans to raise to 30,000 Mt in the next four years. Over the period, 20,000 new jobs should be created in the sector.

Séna Akoda

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