Nigeria’s annual cashew trade stands at N24bn

The National Cashew Association of Nigeria, says the nation produces 120,000 tonnes of cashew annually with trade worth N24bn.

The national president of NCAN, Ojo Ajanaku, stated this on Monday at a workshop on cashew apple processing held in Auchi, Edo State in collaboration with the Federal Ministry of Trade and Investment.

“Nigeria is the sixth largest producer of cashew in the world with an annual production of about 120,000 tonnes and a total annual trade worth of N24bn,” Ajanaku said.

He said further, “We are glad to witness the prosperity of cashew farmers in Nigeria. This shows that NCAN is working and in collaboration with the 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.”

Millicent Oare, a resource person at the event, who spoke on the value chain of cashew apple processing, described the cashew tree as one with economic importance.

Earlier, Edo Chairman of NCAN, Osas Ojeikere, said, “Nigeria cashew industry is the most reliable and credible supplier and exporter of high-quality cashew products. Therefore, all hands must be on deck to harness the potential of cashew in the agricultural sector.”

Anozie Egole
Anozie Egole
Anozie Egole is a Transport correspondent. He reports Maritime, Aviation and Rail/Road Transport for Financial Street.

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