Lettuce : declining harvest
The lychee harvest campaign began on November 12 on the east coast of Madagascar, in a gloomy atmosphere. The unfavorable weather conditions of the previous months raised fears of a significant drop in production, which is however much greater than the volumes exported. The floor price for purchasing fruits from collectors by exporters was set at 1,500 ariary. (around 30 euro cents), against 1,300 ariary last year.
In 2023, Madagascar had exported 16,800 tonnes of lychees, for an FOB value of 12 million euros, or around 70 euro cents per kilo. In 2022, the non-governmental organization Transparency International had taken legal action, suspecting acts of corruption within a sector managed by a group of exporters which set up intermediary marketing subsidiaries.
First exports of graphite from Molo
The Canadian group NextSource Materials exported its first tonnes of graphite extracted from the Molo mine at the end of October, in the Tuléar region. The ore was intended for German and American customers. The Malagasy mine was commissioned in early 2023. It currently has a nominal capacity of 17,000 tonnes of graphite per year, which could be increased almost tenfold in the coming years. Global demand for graphite, used in particular in electric vehicle batteries, is growing strongly. China is, from afar, the world's leading producer, ahead of Mozambique and Madagascar.
A tax on telephone transactions
The Malagasy finance bill for 2025 plans to introduce a tax on financial transactions carried out by mobile telephony, a practice which has become widespread in recent years in a country whose inhabitants have very few bank accounts. The tax rate is set at 0,5% of the amount transferred (or the amount
received for transfers from abroad). Small transactions, less than 150,000 ariary (around 30 euros) will however be spared. The Malagasy state is banking on a revenue of 143 billion ariary (almost 30 million euros) thanks to this new tax next year.
Air service to Nosy Be is expanding
The tourist island of Nosy Be is preparing to welcome many additional charter flights at the end of 2024, according to the Ministry of Tourism. Air Bulgaria company, which had already operated in 2023, scheduled around ten rotations. Neos companies (Italy) and Airlink (South Africa) are also expected at Fascene airport, just like the first charter flights from Israel. Ethiopian Airlines, which already serves Nosy Be four times a week, announces a daily flight during this high season.
Funds hoped for from low carbon emissions
On the occasion of Cop 29, organized in November in Baku (Azerbaijan), Madagascar joined forces with three other countries (Bhutan, Suriname et Panama) to request their official recognition as neutral or negative countries in greenhouse gas emissions. It is accepted that the Big Island, like the other three countries, each absorb more CO2 than they emit. Partners undertake not to become emitters, by asking the international community for funds to finance environmental actions.
