Wednesday, 30 December 2015

Cashew Export Worth $250 Million: Vietnam n India Largest Buyer


President, of National Cashew Association of Nigeria (NCAN) Pastor Tola Faseru s said Vietnam and India remained Nigeria’s largest buyers.

Faseru said global demand for its nut has been forecast to go up. He urged exporters to pay more attention to improve product quality and ensure hygiene and food safety to enable exports.

Nigeria cashew exports are worth $250 million (about N49.7 billion) yearly, according to the National Cashew Association of Nigeria (NCAN).

Speaking at a logistics meeting in Lagos, yesterday, its President, Pastor Tola Faseru said the average export price goes up yearly with increased demand coming from consuming nations.

Globally, stocks of nuts, including cashew, in North America and Europe had been low, while global demand had increased. This offers good prospects for the Nigeria’s cashew industry this year, he said.

The industry, according to him, is expected to earn $250 million from export of 180,000 tonnes of cashew nut.
Faseru said the industry wants to increase cashew cultivation area, nationwide and produce 500,000 tonnes by 2020.

He said the association was working with farmers and the government to develop cashew growing areas and giving technical support to farmers to help them increase profits.

To enable Nigeria improve its position as a major  cashew exporter, he said the association decided to hold a meeting with operators across the port value chain in order to reduce the transit time for cashew exports.



2 comments:

  1. I love cashew those days nice.

    ReplyDelete
  2. another source of income for naija if can get themselves together

    ReplyDelete