Mozambique says it will intervene to prioritise domestic processors for cashew and soy exports

On 17 September 2026 Mozambique’s Secretary of State for Trade said the government “will intervene in exports” to ensure cashew nuts and soybeans supply domestic processors first. The public signal, if formalised, would reduce near‑term FX export receipts and tighten reserve liquidity until local processing capacity expands.

Prioritising domestic processors would likely slow FX inflows from raw commodity exports, tightening central bank reserve liquidity. That can increase funding premia on Mozambique’s USD sovereign Eurobonds and dollar‑denominated corporates until processors absorb volumes or exporters receive compensating FX channels. The size and duration of any premium depend on the specific measures, enforcement and timeframe for domestic capacity expansion.

Publication of formal implementing regulations, decree or timetable specifying export restrictions and enforcement arrangements.