Investor Presentaiton

JICA Backup Low local value addition: Lack of local transformation ecosystem resulting in majority export of raw products Cocoa: Developed regions exporting processed cocoa, realizing -2x higher value for exports Value realized³ ($/tonne) -2x value increase by processing Processed cocoa beans 4-4.9 Raw cocoa beans 2.5 Cashew Nuts: Unlike Côte d'Ivoire; all other regions mainly export processed (without shell) cashew nuts ~8x value increase by removing shell Processed Raw cashew cashew nuts Value realized³ ($/ tonne) 6.1 nuts 0.73 100 99 9 83 28 72 20 14 20 1 3 84 91 99 100 100 96 97 99 60 86 80 17 Asia Central European Northern Union America South Côte America d'Ivoire Africa Oceania Exported cocoa beans (% export) 16 9 Central Asia South America European Union Oceania Northern Africa America Côte d'Ivoire Locall processed (% export) 48 Locall processed (% export) Exported raw cashew nuts (% export) 1. Processed cocoa includes cocoa cutter, cocoa paste, cocoa powder and cake; 2. Processed cashew includes cashew nuts without shells while shelled are raw nuts; 3. Value realized calculated as (exports value/ exports tonnage) for 2013 for Côte d'Ivoire Source: FAO

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