Nigeria is expected to record increasing boost on its cashew nut production in the coming years due to renewed focus by government and increasing demand for the commodity across developed countries and Asia.
Production has risen been projected to rise by 30 percent, owing to improved farming practices.
Segun Awolowo , executive secretary, Nigerian Export Promotion Council (NEPC), stated this at a workshop on ‘Cashew Processing and Market Information Systems’ in Lagos recently.
“Recent government 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 percent in the next two years,” he said.
Nigeria is rated to be 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, respectively. They are both leading processors of cashew nuts in the world.
Awolow notes that “in 2011, Vietnam imported over $140million worth of RCN and $46million worth of cashew kernel from Nigeria”, adding that “in recent years, export of Nigeria RCN has been increasing.”
With a projected output of 175,000 metric tonnes of RCN in the just concluded 2016 trading season, Nigeria is expected earn over $200million at an average of price $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 respectively.
To further improve Nigeria’s cashew production, Awolowo stated that working with the USAID/NIGERIA NEXTT project, the council has developed a cashew sector strategy for the cashew value chain in Nigeria.
The cashew strategy is expected to improve the quality of Nigeria’s RCN and enhance the transparency of the Nigeria cashew industry by developing a Market Information System.
The workshop which was organized by the African Cashew Alliance (ACA), USAID West Africa Trade and Investment Hub (WATIHUB) and USAID|Nigeria Expanded Trade and Transport (NEXTT) Project, unveiled the Cashew Marketing Information System (MIS) that was developed by ACA to reflect reference pricing for cashew traders and market analysts. Data gathered on the MIS can be sourced online, SMS, email or voice platforms with provision for the five major Nigerian languages.
NATHANIEL AKHIGBE
