Cashew Nuts Exports Generated $402 Million in 2017

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Between February and December 2017, Nigeria has exported 220,000 tons of cashew nuts generating N144.7 billion of revenues, or $402 million. This was disclosed by Sotonye Anga, spokesman of Nigeria’s Cashew Association (NCAN).

The figures are respectively up by 19% and 55% compared to the previous season.

Nigerian cashew is mainly exported to Vietnam. South Eastern Asian countries exported 82.6% of the total exports or 181,753 tons. The remaining volumes (38,247 tons) were sent to China, India and other countries.

These figures have shown the potential of the cashew and with increased crop growing; we have seen a reverse trend of urban to rural migration. Many urban dwellers are now going back to villages to take up farming”, the spokesman explained.

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The association plans to generate $650 million from the nut’s export by 2020, producing 500,000 tons. This output should make the country the second largest cashew producer in Africa, after Côte d’Ivoire. 

 

Ecofin Agency

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