Nigeria Produces Between 350,000 to 360,000MT of Cashew Nuts; Earns N14 Billion Annually

Nigeria cashew farmers are smiling to the bank as the global demand for both raw and processed cashew continues to rise. Although the country exports more raw cashew nuts because it lacks efficient processing facilities. 

Nigeria earned about N14 billion from the export of cashew in the last one year. The country also intends to increase the commodity to one million metric tonnes per annum.

Cashew nuts could be eaten as food while the oil are also used for medical and industrial purposes. They can be used for wood preservation, they are also used for paints and printing ink among others. 

Speaking to journalists about the forthcoming African Cashew Alliance Conference scheduled to take place in Abuja this September, the President, the National Cashew Association of Nigeria (NCAN), Mr. Ojo Ajanaku, said the country’s cashew production would rise to 400,000 metric tonnes in the harvesting season. 

He said, “We produce between 350,000 to 360,000MT of cashew annually. With the cooperation of the ministries, departments and agencies of government in the past two years, we believe that we will meet between 400,000 to 420,000MT in the coming harvest. 

“However, our target is to grow it to a million metric tonnes in four to five years and we are on the right path to achieving this as a nation.” 

Speaking further about the conference, Mr. Ojo Ajanaku said the conference slated for September 2022 is the 16th edition of the conference and it will be holding for the first time in Nigeria. 

He disclosed that African Cashew Alliance Conference will be an important opportunity to showcase the progress that has been made in the last few years and as well to attract International investors. 

Nigeria’s cashew production is growing. With the renewed demand for cashew nuts globally, it has the potential to contribute to the country’s foreign exchange.