kollinz1234:
This is the worst week for Buhari and APC, I wish the week will not finish now

kross01:

My dear sometimes the things our journalists put out there for people to read begs the question if they at all went to the most basic of schools. How on earth does one export a product without agreeing financial terms before hand? If they had cited health inspection as reason, it would have even made some sense maybe the cashews got bad in transit but no, they said its price like Nigeria took the cashews to go hawk in "international market". anyway, this is election year so a lot of stupid write ups will always flood everywhere

FreddyKruger:
Bad news surrounds the lifeless one these days. An Omen of his calibre at the seat of power will only translate ill luck, misery and poverty to nigerians.

post=74905437:

We guess the popular business niche 'AGREEMENT IS AGREEMENT doesnt apply in Vietnam!

callthefred:
The article clearly said the cashew are still in warehouses in Nigeria.

fatytoy333:


No! That's not the case, this was not particular to Vietnam, the same thing with India. It's about the same price issue. The reason why Nigeria as a country couldn't find herself among the top exporting nation is because of over bloated prices, the prices of commodities coming from Nigeria finds it difficult to compete in the international market with same produce coming from other countries. In all sincerity we are the ones shooting ourselves in the foot. I deal in export so I know what I'm talking about.

teemy:

A law suit might be knocking if this is not resolved according to agreement. There is the chance it could but politically motivated.

beamtopola:
Believe me agric can save us in this country. The white men will buy our raw agric product process it and still bring it back to this country but this time he will sell it in high price higher than the price of the raw product.

MCMXCVIII:
Chai!
Even awa own cashew is suffering racism.
What did it do to Vietnam?!!
Racist!!

TrendingAccount:
The push by Nigeria to grow her non-oil export suffered a big setback when her 37,000 tonnes of cashew exported to Vietnam were rejected due to high price of the commodity.

This was revealed by the Deputy Executive Secretary, Federation of Agricultural Commodity Associations of Nigeria (FACAN), Mr. Peter Bakare. He said the price volatility was due to lack of conducive business environment.
He said this made the price of raw cashew from Nigeria to be higher than the price of finished product in the international markets.

“The banks in Vietnam that usually provide the loans to their buyers for purchase complained that the prices of the finished products are less than the price of raw materials.

“The Vietnam financial institutions, therefore, backed out of the business, stressing that it is not a profitable venture for its farmers, so the produce are stuck in Vietnam now,’’ he said.

Mr Bakare noted that over 67,000 tonnes of cashew were also still lying in the warehouse in Nigeria. However, he said the Nigerian hibiscus flower, popularly called ‘Zobo,’ adjudged to be one of the best in the world, was in high demand internationally.

Some countries are using it as base for their wine production or as drinks, he said, noting that measures were being put in place to safeguard the export of the flower to ensure that exporters were complying with the sanitary and phytosanitary requirements of ‘Zobo’ in the international markets.

He also said that the demand for Nigeria’s Shea butter is high in the international market. “It is estimated that it could generate more than two billion dollars annually if well harnessed for large scale production, Bakare said.

He said FECAN as the apex body for over 45 commodity associations in Nigeria, was doing its best to serve as a one-stop shop to link farmers and the private sector operators.

SOURCE: https://www.trendingaccounting.com/2019/01/vietnam-rejects-37-000-tonnes-of-cashew.html

Ishilove:
I don't understand. Wasn't there supposed to be a price agreement before shipping the products? Story doesn't quite add up

teemy:

The bad side of the chain of produce delivery here is our manufacturing costs are high especially due to power. At the end, our prices kick up.
The world is a competitive customer ground. We have to do better or get left behind.

FreddyKruger:
Bad news surrounds the lifeless one these days. An Omen of his calibre at the seat of power will only translate ill luck, misery and poverty to nigerians.

wink2015:


THIS IS A LESSON TO OUR POLITICAL LEADERSHIP WHO MISUSED CRUDE OIL MONEY WHICH OFFER US A CHEAP AND EASY ALTERNATIVE TO AGRICULTURAL EARNINGS.

WE WILL GET THERE WITH BETTER SUPPORT FROM THE GOVERNMENT.

stankezzy:
The issue here is that there are always an agreement between the seller and the buyer but we all know that now the world is a global village , they the outside world know very well what is happening in most countries even in nigeria , if u decide to choose an uneducated and un qualified leader and does not respect the rule of law , how do u think that anybody will take u serious? The way u take ur self is d way people will take u , I can't imagine USA , ghana even sout Africa exporting something to them and they deal with them like this , it is almost impossible

uuzba:

Nigeria is so far behind western world. The moment cheap crude oil money lands our pocket, the FIRST THING is to buy shoe, watch, phone, car. Luxury goods. Intstead of production equipment for these goods. We want to measure up to western world by having and wearing fancy luxury gadgets.
The best thing would have been to send [spies] into Europe to learn all their production techniques and equipment, then return to Nigeria and show us how to replicate such goods here. Chinese and Japanese did this. They never knew how to make cars (Toyota etc). The dub/copied everything from America.

kross01:

My dear sometimes the things our journalists put out there for people to read begs the question if they at all went to the most basic of schools. How on earth does one export a product without agreeing financial terms before hand? If they had cited health inspection as reason, it would have even made some sense maybe the cashews got bad in transit but no, they said its price like Nigeria took the cashews to go hawk in "international market". anyway, this is election year so a lot of stupid write ups will always flood everywhere

Joyrise:


Why is all ur comment is directed at another person's father. Don't u have a father?

kross01:

My dear sometimes the things our journalists put out there for people to read begs the question if they at all went to the most basic of schools. How on earth does one export a product without agreeing financial terms before hand? If they had cited health inspection as reason, it would have even made some sense maybe the cashews got bad in transit but no, they said its price like Nigeria took the cashews to go hawk in "international market". anyway, this is election year so a lot of stupid write ups will always flood everywhere

Sholaco:
u will v to forced yourself to commit suicide by d time buhari win come February