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.
https://www.today.ng/business/58964/nigeria-targets-n138bn-annual-income-from-cashew-export

That's the diversification we're talking about. We have so much fertile lands that supports many cash crops needed worldwide, yet we're focusing on fuel alone. Hope to see more of this.

Cashew? Okay

second non oil ......


and nobody talks about that source of revenue.
anyway good to know that billions are still coming in from non oil sector.

The money can't even buy M.Buhari's dream Aso-Rock Ride

Hope we get to achieve that target.

Hmmm... N138bn is much less than I expected. Didnt know we made less than that from cashew. Nigeria really has lots of growing up to do.

let them come to my state "kogi" home of cashew..

Work Alert....Farmers Needed Urgently For Cashew Exportation

Kudos!

This is the kinda news I love to read

See lots of ideas and clues for Nigeria to survive in the shadows of falling crude oil prices.

I wonder how this country would have survived in these days of falling oil prices had the clueless one been re-elected.


Thank you God for bringing President Muhamadu Buhari in these trying times.

If Nigeria can actually face agricultural arm well, in 10years we will be smiling. Nice development.

dominique:
That's the diversification we're talking about. We have so much fertile lands that supports many cash crops needed worldwide, yet we're focusing on fuel alone. Hope to see more of this.

The dwindling fuel price is blessing in disguise for Nigeria.

Alright!

ok.....make i begin sharpen my toolz

ok

Nice projection and lets hope it falls in place.

ok ooo

hmm


nice nice ,we re getting there

NORAD:


The dwindling fuel price is blessing in disguise for Nigeria.

u think so? The president said if crude oil prizes continue to drop then Nigeria won't be able to fund most of her capital project. Abi u no watch am live?

Nice

Good for Enugu state.. They have the best quality of cashew in the country.

dominique:
That's the diversification we're talking about. We have so much fertile lands that supports many cash crops needed worldwide, yet we're focusing on fuel alone. Hope to see more of this.

you can't be farther than the truth, the numerous quantum of cashew harvest wasting in the South East is enough to free us from d crisis of global oil volatility.

This is what I call a proper plan. I like the long term view of this business unlike in most other business in Nigeria. It will be nice to know more about the individual companies that exports cashew for investment purpose.

ok

story for the gods

k