Nigeria earns $250 millions from cashew nuts exportation in 2022

Published 2023년 1월 24일

Tridge summary

Nigeria's cashew nut exports generated over $250 million in 2022, accounting for about 10% of the country's agricultural exports. However, only 10% of the 250,000 metric tons produced annually is processed locally. The Federal Government has listed cashew as a priority crop for promotion. In Edo state, a total of 62,500 hectares have been allocated to nine investors for oil palm production. The National Cashew Association of Nigeria (NCAN) aims to transform Nigeria into a reliable supplier and exporter of high-quality cashew products.

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Original content

BENIN – Dr. Mohammad Mahmood Abubarkar, Minister of Agriculture and Rural Development, on Tuesday revealed that Nigeria realized the sum of $250m (two hundred and fifty million US Dollars) from the exportation of cashew nuts in 2022. The Minister who made the revelation at the lunch of Nigeria Cashew Day and Cashew Season flag-off ceremony in Benin city, Edo state capital, however lamented thatout of the 250,000 metric tone of cashew nuts produced in Nigeria annually, only about 10% is processed locally. Abubakar who was represented at the Cashew Day and Cashew Season flag-off ceremony with the theme:” Industrializing the Nigeria Cashew Sector through Inclusive Policies,” by Dr. Ernest Afolabi Umakhihe, Permanent Secretary of the Ministry said cashew nuts exported from Nigeria at the end of 2022 generated over $250million (accounting for about 10% of the country’s agricultural export) While disclosing that cashew nuts export is expected to fetch Nigerian farmers about $500million ...

Source: Independent