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China Announces Project to Process Cashew Nut from Mozambique

China Announces Project to Process Cashew Nut from Mozambique

The authorities of the southern Chinese island of Hainan have announced the sale of a plot of land in an industrial park for the establishment of a project to process cashew nuts from Mozambique.

In a statement, the leadership of the municipality of Haikou, capital of the island province, said that the project of Chinese company Tiley Real Estate has the cooperation of the government of Mozambique to ensure the supply of cashew nuts, stressing that it provides for the “in-depth transformation” of the product, including production of extracts that can be used in the food industry and cosmetics.

The Mozambique cashew nut project is due to be born on one of the first three plots of land sold as part of the first phase of an industrial park dedicated to processing agricultural products in the Meilan area of Haikou.

The authorities in the Hainan capital said that the three projects represented total investment of 850 million yuan (7.5 billion meticais) by Tiley Real Estate, based in Shenzhen, near Hong Kong, in southern China.

The statement said that, after becoming operational, the three projects could achieve annual revenues of 1.1 billion yuan (9.7 billion meticais) and boost Haikou’s tax revenues by over 11 million yuan (97 million meticais).

In September China removed customs duties for 8786 types of product imported from 16 developing countries, including Mozambique, which account for 98 percent of products imported from those countries.

The Mozambican deputy minister for Agriculture and Rural Development, Olegário Banze, had already said in July 2021, at a meeting with China’s permanent representative to the United Nations Food and Agriculture Organisation, Guang Defu, that Mozambique wanted to expand agricultural trade with China


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