April 20, 2015 / 1:18 PM / 4 years ago

Bissau farmgate cashew price up 30 pct in 2015; govt to boost exports

BISSAU, April 20 (Reuters) - Guinea-Bissau set 2015 farmgate cashew price paid to farmers at 300 CFA francs ($0.49) per kg said on Monday, 20 percent higher than the previous year, as the government launched a new season aimed at boosting its top export earner.

The tiny West African nation is the world’s seventh-biggest cashew producer. Production of the snack accounts for around 90 percent of Guinea Bissau’s export revenues and employs some 80 percent of its population of 1.6 million.

Baciro Dja, Bissau government spokesman said the goal was to export at least 200,000 tones of cashew this year. Bissau exported some 130,000 tonnes in 2014.

India is the main purchaser of the Bissau cashew, but the government plans to export to China and Vietnam this year.

Dja said the government also aims to stop the smuggling of Bissau cashew to neighbouring Senegal where some 60,000 tonnes were smuggled last year.

Bissau cashew season runs from April to September.

$1 = 612.0700 CFA francs Reporting by Alberto Dabo; Writing by Bate Felix; Editing by James Macharia

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