The Nigerian Export Promotion Council (NEPC) said that earnings from cashew exports will be doubled to $500 million by 2023.
Ezra Yakusak, executive director and chief executive officer of NEPC, spoke during the opening of the organic cashew certification program for export on Thursday.
According to Yakusak, the program is a five-year initiative by NEPC, Nicert Limited, Valency Limited, and PRO-Cashew to accelerate growth in the non-oil export sector. ‘
He stated that the project would promote a gradual transition from conventional cashew to organic cashew, ensuring a niche market and premium pricing.’
According to Yakusak, the project’s goal is to help the Nigerian cashew sector raise productivity and efficiency, improve crop quality, and improve harvest and post-harvest practices.
He emphasized the importance of value addition by stating that Nigeria exported 315,677 metric tonnes of raw cashew nuts for $252 million in 2022, accounting for 5.24 percent of the country’s non-oil export portfolio.
The NEPC president also stated that the federal government intends to increase cashew export earnings to $500 million.
“In 2022, our non-oil export performance indicated that cashew was the fifth leading non–oil exportable product in Nigeria,” Yakusak said.
“We felt that we need to encourage this product and ensure that the potential from cashew is better harnessed.
“We exported cashew worth about $252 million in 2022 and with the launch of the project, we hope to double it this year.”
Yakusak, on the other hand, expressed worry that the full economic potential inherent in the export of the product has not been realized, despite the fact that the product was Nigeria’s fifth top non-oil exportable product last year.
He believes that the program will address challenges facing the business.
“Nigeria’s cashew export trade was largely hampered by non-adherence to food safety standards, lack of traceability, low yield per hectare, poor practices, and aging trees, among others,” he added.
According to Annabel Kamuche, group managing director of Nicert, a commercial organization that provides international certification for export products, Nigeria might lessen its dependency on dangerous and poisonous chemicals by opting for organic farming practices.
Kamuche said that the country may also boost soil health while developing a healthier and more resilient food system.
“As we continue to face challenges related to climate change and environmental degradation, we must adopt sustainable practices that minimise harm to the planet and support local communities,” she said.
“It is a thing of pride for Nigeria that it has started making a mark in the usage of organic products where, apart from cashew, crops like turmeric, honey, sesame, soybean, and hibiscus are gaining substantial grounds.
“Nicert is confident that in the coming years, Nigeria will be among the front runners in the global organic sector with more value chains participating in organic agriculture.”
 said that earnings from cashew exports will be doubled to $500 million by 2023. ..){kind=link}