Cape Verde: Exports of canned food, fish shoot up almost 750% in January

The volume of Cape Verde’s sales of canned and frozen fish, which represent about 80% of the archipelago’s exports, amounted in the first month of the year to more than 417 million escudos (3.7 million euros), revealed a statistical report from the Bank of Cape Verde (BCV), which details exports.

This performance, the highest monthly value in more than a year, represents a growth of 745% compared to the 49.3 million escudos (446 thousand euros) in the first month of 2022.

The value of Cape Verdean exports of canned and frozen fish fell 9.5% from January to December last year to 3,796 million escudos (34 million euros), compared to 4,197 million escudos (37.7 million euros) in 2021, according to BCV data.

According to previous data from the National Institute of Statistics of Cape Verde, Spain is the country that buys the most Cape Verdean products, with a share of over 60%, maintaining a strong activity in the canning industry on the islands of São Vicente and São Nicolau.

This canning industry in São Vicente admitted in January 2021 problems in exports, given the lack of an agreement by the European Union for derogation from rules of origin. Without the approval of the new derogation request since 2020, the Cape Verdean canned food exports would have customs charges (because the raw material originates from fishing vessels from other countries), putting the survival of the sector in jeopardy.

The European Commission approved in June 2021 a three-year derogation from the rules of preferential origin in canned tuna, mackerel, mackerel and Jewfish fillets by Cape Verde. In this decision, signed by the President, Ursula Von Der Leyen, it is assumed that the derogation is temporary in nature, for three years, “and is subject to improved compliance with the rules of origin applicable to the products concerned and the requirement for administrative cooperation.

According to the same document, the derogation applies, in the first year, to (annual) volumes of 5,000 tonnes of prepared or preserved tuna fillets, 3,000 tonnes of prepared or preserved mackerel fillets, and 1,000 tonnes of prepared or preserved flatfish fillets.

About Khalid Al Mouahidi 4410 Articles
Khalid Al Mouahidi : A binational from the US and Morocco, Khalid El Mouahidi has worked for several american companies in the Maghreb Region and is currently based in Casablanca, where he is doing consulting jobs for major international companies . Khalid writes analytical pieces about economic ties between the Maghreb and the Mena Region, where he has an extensive network