December 31, 2015
The
country is targeting an annual income of over $700m (N138bn) from the export of
cashew nuts by the year 2020. The National President, National Cashew
Association of Nigeria, Mr. Tola Faseru, who disclosed the figure at this
year’s annual cashew logistics meeting, noted that the government and all
stakeholders in the cashew value chain were making efforts to raise the
production from the current 180,000 metric tonnes yearly to 500,000 metric
tonnes by 2020.
Faseru
added that the meeting, which had in attendance exporters, shipping companies
and freight forwarders, was aimed at addressing all the challenges that cashew
export faced in 2015 and prepare for the next season, which starts in February,
in order to pave the way for a hitch-free export process.
According
to the NCAN president, Nigeria will export 6,400 40-feet containers of cashew
monthly in 2016, adding that the aim was to increase these to 20,000 40-feet
containers by 2020.
“Cashew
is Nigeria’s second largest non-oil foreign exchange earner, with a production
volume of 180,000MT and an annual income of $250m. The crop has been earmarked
as one of the five agro-industrial products among 13 products for
diversification and it accounts for 200,000 jobs,” Faseru said.
He
added that 85 per cent of Nigeria’s cashew was currently being exported to
Vietnam and India, while the country was also exploring the market for cashew
kernel, shell and liquid exports.
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