Nigeria produces 120,000 tonnes of cashew annually
- 16th February 2021
- Posted by: Hakeem
- Category: Competitive research
Mr Ojo Ajanaku, the National President of the National Cashew Association of Nigeria (NCAN) in a recent workshop has disclosed that Nigeria produces 120,000 tonnes of cashew annually.
This disclosure was made by him today at a workshop on cashew and apple processing which was organized in Auchi, Edo State, in collaboration with the Federal Ministry of Industry, Trade and Investment.
According to a report by the News Agency of Nigeria (NAN), Mr Ajanaku in his statement revealed that Nigeria is the 6th largest producer of cashew in the world.
He noted that the annual production of Cashew in Nigeria is at 120,000 tonnes, while the total annual trade value of Cashew is worth N24 billion.
Ajanaku called on smallholder farmers (SHF) and other key players in the agricultural sector to consider going into the cashew business, as this would enable them to tap into the huge economic benefits embedded in the Cashew business.
What they are saying
Mr Ajanaku said, “We are glad to witness the prosperity of cashew farmers in Nigeria. This shows that NCAN is working and in collaboration with government and our development partners.
“The current global market trends show an increasing and strong demand for cashew and Nigeria will continue to deliver its quota and remain relevant in the cashew world.”
Mrs Millicent Oare, a resource person who spoke on the huge gains in the cashew apple processing value chain, described the cashew tree as a complete tree with several economic importance.
She also noted that “Lack of knowledge and skills in the processing and marketing of cashew apple products are challenges in Nigeria.”
What you should know
- In line with the huge prospect embedded in the Cashew industry, the nation’s cashew production has been projected to hit 300,000 metric tonnes of cashew by 2030. This is expected to place the country in the rank of leading cashew producer in the world.
- According to a report by Bigwig FX, Nigeria generated a total sum of N38.2 billion from cashew nuts export in one year, between March 2019 and March 2020.
- Cashew, over the years, has proven its weight as a major export commodity for Nigeria, especially in the agricultural sector, as it is Nigeria’s 3rd biggest agricultural export product.