Weekly Product Updates

W47 Cashew Update: Vietnam Explores Export Opportunities to Africa and the Middle East, Nigeria Aims to Boost Cashew Processing, and APEDA Facilitates India's Cashew Exports on National Cashew Day

Raw Cashew Nut
India
Market & Price Trends
Cashew Nut Kernel
Nigeria
Published Nov 29, 2023
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The Vietnam Trade Promotion Agency Explores Export Opportunities to Africa and the Middle East

The Vietnam Trade Promotion Agency, part of the Ministry of Industry and Trade, organized an online workshop to explore export opportunities to Africa and the Middle East. The discussion highlighted the substantial import demand in these regions, particularly in the United Arab Emirates (UAE), which serves as a transit center for re-exporting goods. As the largest exporter of agricultural products to the UAE among the Association of Southeast Asian Nations (ASEAN) countries, Vietnam has seen significant increases in exports, including cashew nuts, rice, fruits, vegetables, and tea. The absence of taxes on agricultural products and the UAE's membership in the Gulf Cooperation Council provide additional advantages for Vietnamese goods. Egypt and Nigeria also emerge as potential markets for Vietnamese products, with the latter predicted to be the world's largest rice importer in 2024.

Nigeria Aims to Emulate Vietnam’s Cashew Processing Dominance With Growing Factory Establishments

Nigeria aims to follow in Vietnam's footsteps in becoming a major cashew processor, anticipating a shift from merely producing to importing and processing cashews from other African nations. The President of the National Cashew Association of Nigeria (NCAN) highlighted ongoing efforts, with more than five processing factories being established, each with significant capacity. The goal is to promote domestic production and ensure that the benefits of the cashew industry primarily accrue to local investors.

APEDA Marks National Cashew Day with Global Shipments to Bangladesh, Qatar, Malaysia, and the US

The Agricultural and Processed Food Products Development Authority (APEDA) marked National Cashew Day by facilitating the export of Cashew Nuts from India to Bangladesh, Qatar, Malaysia, and the United States (US). India, the second-largest global producer and exporter of Cashew Nuts, sent its first-ever shipment to Bangladesh. The major producing states in India include Maharashtra, Andhra Pradesh, Odisha, Karnataka, and Tamil Nadu. APEDA aims to explore new markets in Japan, Saudi Arabia, the United Kingdom (UK), Spain, Kuwait, Qatar, the US, and European countries while addressing industry challenges and promoting sustainable practices. The organization is committed to supporting farmers and elevating the global position of Indian cashew products through innovation and technology. In addition, APEDA is considering the implementation of a traceability system.

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