Nigerian Cashew Nut Production on the Rise

Government aid has boosted local production, and the harvest for the 2020/21 season is set to increase significantly, resulting in a surplus.

“Yes, production has increased this year. It’s been a relatively long season. The export promotion board says the season runs from December to June, and we expect this season to run longer. We expect a surplus starting from next month (May 2021) and a maximum harvest of 300 tons.” Oche stated.

The major challenge for cashew farmers in Nigeria is the access to funds for start-ups, expansion processing, and exports. According to the NCAN, long-term financing is required for the continued development of the Nigerian cashew industry.

“Our government has been supporting local farmers, and those who are interested in cashew farming are also encouraged with adequate funding. This helps boost local production and assists start-ups as well. The Central Bank of Nigeria has been doing a great job in boosting agriculture in Nigeria. This is not just the case for cashew production only; the list is endless.” Oche explained.

Export destinations growing

High Point Foods is a trading enterprise based in Lagos, Nigeria, specializing in peanuts, cashew nuts, ginger, palm nuts, and charcoal. The company has supplied over 97 countries globally, focusing on the US, Canada, the Netherlands, the UAE, and India.

“We are currently supplying the US market with cashew nuts and peanuts, the Netherlands with ginger, and the UAE with charcoal. We have a lot of demand for our farm produce in China, but we have ceased doing business with Chinese firms due to bad experiences. Our main markets, for now, are the US, Canada, the Netherlands, the UAE, and India.” Oche concluded.

Sources:

The Guardian Nigeria. “Association urges increased funding to cashew farmers to boost production.”

The Guardian Nigeria. “Nigeria produces 120,000 tonnes of cashew annually – Association.”

ITC Trade Map. HS Code: 080131

High Point Foods.