Eurofind said to plan investing in Cashew processing in Cote d’Ivoire

(Ecofin Agency) – Is Eurofind going to enter the Ivorian cocoa and cashew processing market soon? This is what suggests a meeting between the firm’s chief executive, Adham El Khalil, and Cote d’Ivoire’s Prime Minister, Amadou Gon Coulibaly, news website Koaci reported.

Though Eurofind did not give full details regarding its plans, the company said it has the government’s support if it intends to enter this market. Until now, it must be highlighted, the firm has been active the steel and dairy sectors. The new development aligns with the government’s plan to boost the processing sector. Indeed, the administration aims to bring 50% and 100% respectively processing rates for cocoa and cashew, by 2020.

If it goes through with its move, Eurofind will be entering a cocoa-processing industry dominated by Swiss Barry Callebaut, Singapore’s Olam and French Cémoi.

source: Ecofin