Cashew Sector: Côte d’Ivoire Signs Partnership to Produce Cardanol from Cashew Shells

The Cotton, Cashew, and Shea Council, the Investment Promotion Agency of Côte d’Ivoire (CEPICI), and the Indian group ESSAR FUTURE ENERGIE LTD signed a Memorandum of Collaboration on Friday, September 11, 2026, in Abidjan. This milestone agreement paves the way for the establishment of a Cardanol production unit in Côte d’Ivoire using Cashew Nut Shell Liquid (CNSL) extracted directly from cashew shells. The project opens exciting new perspectives for the development and processing of the national cashew sector, establishing an industrial unit that aims to become the largest in the world dedicated to Cardanol production from cashew waste.

Under the terms of the agreement, ESSAR FUTURE ENERGIE LTD plans to invest more than $75 million USD in Côte d’Ivoire. This substantial foreign direct investment will cover the purchasing of cashew shells, the extraction of CNSL, and the manufacturing and exportation of processed derivatives. By turning raw agricultural waste into valuable industrial commodities, the initiative enhances Côte d’Ivoire’s standing in the global cashew market, boosts the profitability of local processing plants, and ultimately supports higher incomes for cashew farmers.

During the signing ceremony, Mamadou Berté, Managing Director of the Cotton, Cashew, and Shea Council, Solange Amichia, Managing Director of CEPICI, and Hrushikesh Paranjape, representing ESSAR FUTURE ENERGIE LTD, emphasized the significant environmental benefits of the initiative. Converting cashew shells into high-value chemical products resolves key waste management challenges while creating new industrial outlets. The signatories also commended Eric Camille N’Dri, Côte d’Ivoire’s Ambassador to India, who facilitated the initial exploratory mission in June 2026 alongside Vibhav Agarwal, CEO of ESSAR FUTURE ENERGIE LTD.

This agreement comes just two weeks after similar industrial conventions were signed in China to advance textile manufacturing and cashew kernel processing under the leadership of Ambassador Abou Dosso. These combined efforts reflect the broader economic diplomacy strategy driven by the Government of Côte d'Ivoire to attract foreign investment, modernize local industries, and maximize the value of the nation's raw materials before export.