Cashew processing: Nigeria will soon become another Vietnam

Cashew Nut Kernel

Nigeria

Market & Price Trends

Published Nov 24, 2023

Tridge summary

The President of the National Cashew Association of Nigeria (NCAN) has warned that Nigeria may soon start importing raw cashew nuts and processing them, similar to Vietnam. He stated that several factories are already being set up in Nigeria to process cashew nuts, with the smallest factory having a capacity of 15,000 metric tonnes annually. Another expert mentioned that Nigeria has the best quality cashew nuts in West Africa and that there is a growing demand for them worldwide.

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Original content

LAGOS – Ojo Ajanaku, President, National Cashew Association of Nigeria (NCAN), has said that Nigeria will soon become another Vietnam , where Nigerians will be importing raw cashew nut, and will not only be processing what the country is producing, but will also be importing from other African countries to process in Nigeria. Ajanaku in an interview with Daily Independent stated that, “Nigeria is rich, when we are investing in any sector that is profitable we invest massively, “Now as I am talking to you more than five factories are setting up in Nigeria to process cashew nut, and the smallest one among then will process 15,000 metric tonnes of cashew annually that is; 50 tonnes capacity per day of double shift. “I can tell you categorically, it is ongoing now and many are coming in into the sector so what we are doing as an association is to promote production so that at the end when our people have invested in it, it will not only benefit the foreigners who will be importing ...

Source: Independent