Cashew Market Value Increase by 83%, Production by 43%

  • Society - 06 October 2017, 12:42

National Cashew Association of Nigeria announces that Nigerian cashew has significantly grown in volume and value since 2011. Therefore, it is now ranked as one of the maximum priced commodities in the global market.

Babatola Faseru, the NCAN President, has issued a communiqué. He told that in 2011, Nigerian Cashew production was over 100,000 tons. Meanwhile, in 2017, it has already increased to 175,000 tons (plus 43%) with a market value of $1,800/per ton against $300 in 2011. As NAIJ Nigeria managed to find out, it represents 83% decrease.

He told that presently Nigerian cashew quality ranked one of the highest on the planet. Our work created wealth for Cashew traders, processors, farmers, exporters, and other people across the Cashew Value Chain.

Babatola Faseru told that the association’s management had been working hard over the years and brought the cashew harvest from obscurity place to limelight. Now cashew has already obtained national recognition by both the State and Federal Government of Nigeria.

As a result, the crop has gained the status of a transformational crop from the Ministry of Agriculture.