Job offersmore »
- Experienced International Buyer/Seller Germany
- Project and Sales Manager - Russia/Caucasian Region
- Quality Coordinator EU in Supply Chain Management Dep.
- Regional Sales Director - United States
- Territory Sales Position - US
- International Tomato Grower - Worldwide
- Grower Manager - US
- Application Scientist Salesperson - US
- Technical & Operations Manager - Australia
- Eco Brewing & Growing Technician - UK
Top 5 - yesterday
- World-first Panama disease-resistant Cavendish bananas developed
- Zimbabwe: Timing of general's visit to China raises questions
- NZ: AVOCO's avocado exports growing, despite some market inconsistencies
- New avocado variety to extend growing season
- Dwindling labor force in Washington fruit tree industry putting stress on production
Top 5 - last week
Top 5 - last month
Exchange ratesmore »
Nigeria losing billions annually from cashew exportsNigeria has been losing billions annually from Cashew nut tree according to data from the National Cashew Association of Nigeria (NCAN), due to lack of value addition and Nigeria’s inability to process cashew nuts in significant quantities for export, the country lost $1.4 billion in 2016.
According to the information, Nigeria exported a total of 160,000 metric tonnes of cashew valued at $300 million in 2016. This was far behind what farmers and exporters could have earned assuming there were processing factories that could process cashew nuts to export standards.
Recently, Minister of Agriculture and Rural Development, Audu Ogbeh, said Nigeria would start exporting processed cashew nuts by 2019, adding that currently a tonne of processed cashew nuts, when exported, is sold for $10,000 while the raw cashew nuts are sold at $1,200.
He explained: “It would be beneficial to process the nuts and export rather than exporting the nuts raw. So in the next two years, we will no longer export raw cashew nuts, but roast the cashew nuts for export.”
Publication date: 5/2/2017
Receive the daily newsletter in your email for free | Click here
Other news in this sector: