Logo

Nigeria's cashew nut exports for 2015 cross US$250mn

Export of cashew nuts from the 2015 planting season has contributed more than US$250mn to Nigeria’s economy

Cashew Nut - Thamizhpparithi Maari - Wikimedia CommonsNigerian cashew farmers, spurred by high prices, are maintaining high quality of produce. (Image source: Thamizhpparithi Maari/Wikimedia Commons)

This figure was announced by the National Cashew Association of Nigeria (NCAN) whose spokesman told journalists that the figure was substantially higher than 2013 and 2014 when the sector contributed less than US$125mn annually.

Sotonye Anga from NCAN said that the significant growth was because farmers did not compromise on the quality of cashew nuts, resulting in increased demand for the produce. The price of raw cashew nut also recorded an increase, selling at more than US$850 per metric ton during the 2015 season. Anga said that with the increase, farmers were ready to comply with more stringent quality control procedures. “With the increased pricing that farmers recorded during the 2015 season, they are right now more ready to comply with high degree quality control procedure. Farmers’ compliance level has also increased. We want the market to remain sustainable, viable and strong,” he explained.

Anga said that higher prices combined with good quality of Nigerian cashew led to the significant growth in total revenue. “This figure could be more but because of export through our porous borders, we could not account for those ones,” he added.

Preparations are underway for the 2016 cashew season, and Anga said that cashew tree pruning and training was in progress across all cashew producing states. “The cashew sector is preparing for the next cashew season to commence within the next five months. What we are doing now is sensitising our members across the country on quality control to enable them to enhance their product quality.”

NCAN hopes to increase production in 2016 by an additional 30 to 40 per cent, compared to 2016. The association has taken into account the ongoing cashew shortage in Brazil and is trying to assure buyers from India, Vietnam, Brazil and other countries of high quality cashew for next year also.


LATEST NEWS IN Agriculture

African Development Fund approves US$6.4mn grant to increase financial access for agricultural value chain entrepreneurs

African Development Fund approves US$6.4…

The Board of Directors of the African Development Fund, the African Development Bank Group’s (AfDB’s) concessional lending window, has approved a grant US$6.4mn to Gambia to implement the Incentive-Based Risk-Sharing...

Esri partners with Microsoft to support sustainable agriculture development in Africa

Esri partners with Microsoft to support …

To help support government and non-profit organisations on the continent address climate change, water supply and food security challenges, Esri, the global leader in location intelligence, has collaborated with Microsoft...

USAID and NASA renew partnership to address development and humanitarian challenges

USAID and NASA renew partnership to addr…

On 4 November, Administrator Samantha Power signed a Memorandum of Understanding (MoU) between the U.S. Agency for International Development (USAID) and the National Aeronautics and Space Administration (NASA) to renew...

Norway promises top-up contribution of urgently needed climate finance

Norway promises top-up contribution of u…

On 9 November 2022, Norway, as part of a commitment to triple its support to climate adaptation by 2026, has pledged an additional US$9.5mn contribution of urgently needed climate finance...

CotonChad and IDH sign partnership with Better Cotton

CotonChad and IDH sign partnership with …

Better Cotton recently signed a multi-stakeholder Letter of Intent to participate in the landscape approach, developed with local stakeholders in Chad in conjunction with IDH, intending to work towards improving...

NFU president Minette Batters appointed as ambassador of Farm Africa

NFU president Minette Batters appointed …

Farm Africa, a charity that promotes sustainable agricultural practices, strengthens markets and protects the environment in rural eastern Africa, has announced the appointment of NFU president Minette Batters as an...

Prev Next

OTHER RELATED ARTICLES - Agriculture

USAID announces joint US$30mn commitment to unlock finance for agribusiness in Africa

USAID announces joint US$30mn commitment…

The US Agency for International Development (USAID), the Swiss Agency for Development and Cooperation, and the IKEA Foundation have announced a joint US$30mn commitment to Aceli Africa, an innovative programme...

Southern Africa citrus crop set for bumper harvest

Southern Africa citrus crop set for bump…

The southern Africa region has been predicted to experience a four per cent year-on-year increase in its citrus export crop in 2013

KARI develops new banana and rice varieties

KARI develops new banana and rice variet…

The Kenya Agricultural Research Institute (KARI) has developed new banana, rice and cassava varieties for farmers in Kenya

Tanzanian smallholder farmers push for agricultural support

Tanzanian smallholder farmers push for a…

Tanzanian smallholder farmers are seeking support to increase crop yield to improve agricultural knowledge and access to markets

Zambia hosts 4th Commercial Farm Africa 2015

Zambia hosts 4th Commercial Farm Africa …

The 4th Commercial Farm Africa will highlight agribusiness opportunities in Africa’s commercial farming sector

South Sudan state hosts agricultural trade show

South Sudan state hosts agricultural tra…

Eastern Equatoria in South Sudan recently welcomed visitors to its agricultural trade show where farmers from across the state were able to showcase their new products

Poor rainfall aggravates hunger situation in east Africa: FAO

Poor rainfall aggravates hunger situatio…

In an alert released on 14 July 2017, FAO stated that poor rainfall across the east African countries worsened hunger and left crops scorched, pastures dry and thousands of livestock...

Food price index continues rise in June

Food price index continues rise in June

International food commodity prices shot up 4.2 per cent in June, the highest monthly increase in the last four years

Western Cape Department of agriculture appoints new head of agriculture

Western Cape Department of agriculture a…

Dr Ivan Meyer, provincial minister of agriculture in the Western Cape, has announced Dr Mogale Sebopetsa as the head of the Western Cape Department of Agriculture (WCDoA)

African countries commit to double agricultural productivity

African countries commit to double agric…

A coalition of multilateral development banks and development partners has pledged more than US$17bn in financing to address rising hunger on the African continent, and to improve food security

Zambian government urges farmers to adopt seed technology

Zambian government urges farmers to adop…

The Zambian government has encouraged the country's farmers to adopt seed technology in order to help raise the national average yield

Prev Next

Template Design © Joomla Templates | GavickPro. All rights reserved.