Nigeria’s Cashew Output To Jump by 30%

The Executive Secretary, Nigeria Export Promotion Council, NEPC, Segun Awolowo, has stated that Cashew nut production is to rise due to renewed focus by the government and demand for the commodity.

Represented by a Chief Trade Promotion Officer, Mr Kazim Ahmed, at a workshop on cashew processing and Market Information Systems in Lagos, Awolowo said: “Recent government’s efforts in the development of additional cashew plantations, distribution of improved seedlings to farmers, enforced good agricultural practices are all going to increase output of cashew nuts in Nigeria by 30 per cent in the next two years.”

Nigeria is rated as the fourth largest producer of cashew nuts in Africa and seventh in the world, with the bulk of its Raw Cashew Nuts (RCN) and cashew kernels exported to Vietnam and India. They are both leading processors of cashew nuts in the world.

“In 2011, Vietnam imported over $140million worth of RCN and $46million worth of cashew kernel from Nigeria. In recent years, export of Nigeria RCN has been increasing,”he added.

With a projected output of 175,000 metric tonnes of RCN in this trading season, Nigeria is expected earn over $200million at an average price of $1,200 per tonne in the international market.

Awolowo affirmed the increasing output of Nigeria’s cashew with the production of 150,000 and 130,000 metric tonnes in 2014 and 2013.