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June 27, 2011

Senegal: Groundnuts producer price subsidy removed

The government of Senegal has removed price support subsidy paid to farmers of groundnut. As the new rain season begins, the budget set aside to support groundnut farming has been decreased from 38 to 25 billion CFA francs.

The Minister of Agriculture announced at a recent inter-ministerial meeting on the outcome of the last crop year that the government decided to remove the subsidy in the producer price of groundnuts for the 2011-2012 campaign because, "the price of groundnut is already very high. Today you can not have a kilo of peanuts for less than 250 CFA francs, while the official price is 165 CFA francs.''

He said the money saved would be used for farm equipment and fertilizers.

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