Cashew exports, a good source of Dollar Income as demand for Nigerian Cashew experiences a spike

Cashew is set to become the no 1 cash crop in Nigeria says The National Cashew Association of Nigeria, NCAN. The current global market trends shows an increase in demand for cashew, which has resulted in huge sales and profits for investors and farmers during the 2015 cashew season.
The association’s spokesperson, Sotonye Anga, said that this was due to Good Agricultural Practice and improvement introduced to farmers in 2014.

“We are glad to witness the prosperity of cashew farmers in Nigeria. It goes a great deal to show that NCAN is working and in collaboration with government and our development partners. Nigeria is currently one of the top 3 largest producers in Africa, with Africa controlling 50 percent of the global production. The opportunities inherent in this trade are vast for serious investors as about 400,000 hectares of land are being used for cashew production across the country.  Nigeria’s annual yield per hectare is low because the nation’s current annual production stood at 150,000 tonnes of raw cashew nuts.However, the answer is to rejuvenate cash plantations and increase the area of land under cashew production in Nigeria.  Would be investors must drive and  be committed to GAP and quality improvement protocols so as to get the cash in cashew which holds a lot of prospects for Foreign exchange earnings.

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