Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
COMMODITY NEWS<br />
CASHEW / GROUNDNUT<br />
Gambia<br />
GGC Purchases 34,000 Tonnes In 2013/14 Season<br />
The Gambia Groundnut Cooperation [GGC] has declared the 2013/14 trade season “successful”, after it purchased 34,000<br />
tonnes of groundnut. This season was the best so far. GGC is distributing 25% commission to farmers and as the rainy<br />
season draws closer it is also issuing fertilizer on loan.<br />
[Daily Observer 24/05/14]<br />
Guinea Bissau<br />
Guinea Bissau Sets Aside Billions For Purchase Of Cashew<br />
The Guinea Bissau government has set aside 12 billion CFA Francs [US$256 million] to purchase cashew nuts from<br />
agriculture cooperatives and trade intermediaries at a cost of 250 CFA F/kg, against the price of between 50-100 CFA F<br />
by some traders. The funds released by government will be able to purchase 50,000 tons of cashew nuts from farmers. A<br />
few weeks ago, farmers had accused some brokers of trying to sabotage the cashew nut business by proposing to buy the<br />
product from farmers at a cost of 50 CFA F. In 2011, the government introduced a tax of 50 CFA F/kg, a move that earned<br />
the country US$20 million that year. However, during its last evaluation, the International Monetary Fund [IMF] called for the<br />
suspension of the tax, as had equally been demanded by the association of exporters.<br />
[Xinhua 27/05/14]<br />
4
Change language