The President, National Cashew Association of Nigeria (NCAN), Pastor Tola Faseru, who disclosed this at a logistics meeting in Lagos recently said the average export price goes up yearly with increased demand coming from consuming nations.
Faseru, who revealed that Vietnam and India remain Nigeria’s largest buyers, further said that globally, stocks of nuts, including cashew, in North America and Europe have been low, while demand has continued to increase.
“This offers good prospects for 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.
He said global demand for its nut has been forecast to go up, even as he urged exporters to pay more attention to improve product quality and ensure excellent hygiene and unrivalled food safety standards to boost exports.
He said the cashew industry has developed in recent years and focused on improving technologies.
Faseru said the industry wants to increase cashew cultivation area, nationwide to produce 500,000 tonnes by 2020.
The NCAN boss said the association was working with farmers and the government to develop cashew growing areas and give 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.
He told exporters and farmers that forging a united front can help revamp the cocoa sector, which has over the years, sustained the economy, adding that the collaboration of stakeholders was crucial in global cashew sustainability.
Source: Daily Sun
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