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Tag: cashew

  • Cashew association suspends revenue collection

    Cashew association suspends revenue collection

    The National Cashew Association of Nigeria (NCAN) has suspended all forms of revenue collection in its name with immediate effect, pending institutional reforms and the harmonisation of its governance structures.

    The resolution was part of key decisions unanimously adopted at the NCAN Annual General Meeting (AGM) and Stakeholders’ Forum held in Abuja.

    In a communiqué issued at the end of the meeting, the association also condemned what it described as increasing foreign encroachment across Nigeria’s cashew value chain, warning that such practices undermine local farmers, processors, exporters and the country’s economic interests.

    In a communiqué  signed by the NCAN Secretariat, with Mr. Olarotimi Ayeka listed as Secretary and Mr. Ademola Bamidele Adesokan as President, NCAN rejected calls for a ban on cashew nut exports, stressing that it would instead engage government authorities to promote value addition, improved seeding, respect for contract agreements by foreign buyers, and stronger support for cashew farmers.

    Read Also: NCAN: we’re Nigeria’s apex cashew body

    On policy direction, the AGM expressly opposed any proposal for an outright ban on the export of Raw Cashew Nuts (RCN), noting that such a move could disrupt livelihoods.

    The association said any policy intervention must strike a balance between value addition, farmer welfare, export competitiveness and national interest.

    In a major leadership shake-up, the AGM dissolved the Ojo Ajanaku–led administration, citing loss of confidence and legitimacy.

    Members and stakeholders present at the meeting endorsed and ratified Mr. Ademola Bamidele Adesokan as the new President of NCAN. The association said an official gazetted communiqué reflecting the leadership transition would be issued before the end of the week.

    The AGM further resolved to undertake a comprehensive review and amendment of the NCAN constitution to reflect current industry realities.

    The planned amendments include provisions to ensure that only bona fide cashew stakeholders can become president, prevent any president from exceeding constitutionally defined tenure, and establish a clear, transparent and enforceable leadership succession framework.

    As part of its immediate directives, NCAN ordered all revenue agents and representatives nationwide to cease revenue collection activities on behalf of the association.

    It warned that any individual or group that defies the directive would be reported and treated as acting illegally.

    The communiqué also disclosed that all state police commands have been formally notified of the resolutions through the Office of the Inspector-General of Police.

  • Nigeria’s cashew exports to EU rise by 12 per cent

    Nigeria’s cashew exports to EU rise by 12 per cent

    Nigeria’s cashew exports to the European Union climbed to 3,035 metric tonnes in 2025, representing a 12 per cent increase from the 2,709 tons shipped in 2024, a performance that stood out in a year of uneven supply from several African producers.

    Globally, Nigeria’s cashew nut exports surged to $398.135 million in the first half (H1) of last year , representing an 81.15 per cent  increase compared to $219.780 million in the same period of 2024.

    New trade data from Mundus Agri, a news and trading platform for the global food and feed commodity market, showed that Nigeria was among the few countries to expand exports to the EU at a time when competition intensified and prices surged.

    Mundus Agri said in its latest market update EU imported a total of 193,772 tons of cashews in 2025, up 4.6 percent from 185,189 tons the previous year. Vietnam remained by far the largest supplier, increasing its exports to the EU by 4.7 per cent to 138,287 tons and consolidating its dominance of the European market. Côte d’Ivoire posted the strongest growth among major exporters, boosting shipments by nearly 35 per cent to 32,153 tons, a performance that reflects the country’s expanding role as a leading raw cashew origin.

    India, traditionally a cornerstone of the global cashew processing industry, moved in the opposite direction. Its exports to the EU fell by almost 14 per cent to 8,774 tons, highlighting structural shifts in trade flows and the growing competition faced by Asian processors from African raw nut suppliers.

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    Beyond volumes, the value of the EU cashew market surged sharply. According to Mundus Agri, the bloc’s cashew import bill rose to just over €1.24 billion in 2025, almost 21 percent higher than in 2024.

    “The increase was driven not only by higher import volumes but, more importantly, by a significant rise in prices,” the platform noted, with the average import price climbing to €6.41 per kilogramme.

    Nigeria remains a relatively small supplier compared with Côte d’Ivoire or Vietnam, the increase in shipments translated into stronger export earnings and renewed attention on the country’s cashew sector.

     Nigeria has the potential to play a larger role in the EU market if longstanding challenges around quality consistency, logistics and domestic processing are addressed.

    Last year, the Nigerian Export Promotion Council (NEPC) said the country was pushing to expand its foothold in the global cashew industry.

    Executive Director/Chief Executive, NEPC, Nonye Ayeni emphasised the rising significance of cashew within Nigeria’s export portfolio.

    According to export data, cashew nuts surged to the third position among 234 products exported from Nigeria in the first half of last year, recording a value of $398.135 million, an 81.15  per cent increase compared to $219.780 million in the same period in 2024.

    Cashew kernels also showed significant growth, moving from the 18th position in 2024 to 14th in the first half of last year, with exports rising 40.29 per cent  to $26.851 million.

    According to her, these trends reflect a growing global demand for both raw and value-added cashew products and underline Nigeria’s increasing relevance in the global nut trade.

    “Nigeria currently ranks 4th globally in cashew nut production, reflecting the immense capacity we hold as a nation to lead in this dynamic industry. These figures are not just statistics, they are a powerful signal that the time to invest, innovate, and scale the cashew value chain is now.

     “Over the last decade, the global cashew industry has witnessed robust growth, fueled by rising demand for cashew nuts and kernels in health-conscious markets across Europe, North America, and Asia,” Ayeni said.

    She added that Nigeria, blessed with vast arable land and enterprising farmers, is well-positioned to become a dominant player in the dynamic global value chain.

    She highlighted the opportunities include, a surge in global demand for cashew products, Increasing awareness of cashews as a nutritious, value-packed food, Strong potential for local value addition and industrial processing and the empowerment of smallholder farmers through improved livelihoods.

    However, she acknowledged challenges facing the sector, including price volatility, climate-related risks, quality control, and limited access to finance for smallholder farmers. Addressing these issues, NEPC pledged to deepen public-private collaboration, expand technical support, and improve institutional frameworks to drive sustainable industry growth.

    NEPC called on farmers, processors, exporters, policymakers, and investors to harness the tool for strategic planning and to work collectively to position Nigeria not just as a cashew exporter, but as a hub for premium, value-added cashew products in the global marketplace.

  • ‘Nigeria can earn $10b yearly from cashew industry’

    ‘Nigeria can earn $10b yearly from cashew industry’

    the National Cashew Association of Nigeria (NCAN) has said that Nigeria stands to earn as much as $10 billion annually from the cashew industry if appropriate policies, strategic investments and effective value-addition measures are implemented,

    The National President of NCAN, Dr Ojo Joseph Ajanaku, made this known during a press briefing in Abuja ahead of the forthcoming Nigeria Cashew Day.

    He said Nigeria has the landmass, human resources and market access required to become a major global player in cashew production and processing, but is held back by weak policy frameworks, poor data management and inadequate local processing capacity.

    Ajanaku explained that the Nigeria Cashew Day initiative, launched in Benin in 2023, was designed to convene stakeholders across the entire value chain  from farmers and processors to marketers and service providers  to highlight the enormous but largely untapped potential of the sector.

    He said the event, which moved to Enugu in 2024 and Lagos in 2025, is scheduled to hold in Abuja in 2026 to allow direct engagement with the federal government at the highest level.

    “Our aim is to have a national cashew policy that is owned by Nigerians, not one imposed by external interests. We want a policy that protects the industry, promotes organic cashew, and allows us to fully own what we produce,” Ajanaku said.

    He noted that while Nigeria has about 92 million hectares of land  with over 34 million hectares of arable land currently unused, it still lags behind countries like Côte d’Ivoire, which has a far smaller landmass but records higher cocoa and cashew output.

    “With proper harnessing, the Nigerian cashew industry can create jobs for over 50 million Nigerians. There is nothing lacking, we have the land, the population and the financial capacity to be the number one cashew producer in the world,” he said.

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    Ajanaku emphasised the need for Nigeria to go beyond raw production and become a major processing hub, warning that exporting unprocessed cashew nuts results in huge losses in revenue, employment and foreign exchange.

    He expressed concern that many top cashew-producing states do not have processing plants, pointing to Kogi State as an example.

    “Kogi is one of the leading cashew-producing states in Nigeria, yet it has no single cashew factory. If factories are located in producing areas, our children will be employed, and rural economies will grow,” he said.

    The NCAN president urged state governments to provide incentives that would attract investors to establish processing facilities, while also encouraging local entrepreneurs to invest in their states of origin.

    He also decried the lack of reliable production data, noting that Nigeria currently depends on export figures to estimate its cashew output.

    “We don’t have the correct statistical structure to determine how much cashew we produce. Worse still, a large volume of cashew leaves the country without records, as exporters bypass official procedures to avoid repatriating proceeds,” he said.

    According to NCAN, officially documented exports from the last season exceeded 400,000 metric tonnes, valued at about $700 million, although the actual volume is believed to be significantly higher.

    Ajanaku said Nigeria could increase production to more than 2 million metric tonnes annually within five years, and possibly surpass 4 million tonnes in the long term.

    “At a conservative price of $1,500 per tonne, producing 2 million tonnes would generate $3 billion, excluding by-products,” he explained.

    He further highlighted the economic value of cashew by-products such as Cashew Nut Shell Liquid (CNSL) and residue cake, which are often wasted locally but sell for about 95 cents per kilogram on the international market.

    “If we process what we produce locally and fully exploit the value chain, Nigeria can earn a minimum of $10 billion annually from the cashew industry,” he said.

    He however noted that the upcoming Nigeria Cashew Day would be used to demonstrate to global investors that Nigeria is ready to do business and capable of taking a leading role in the international cashew market, provided the right policy choices are made.

  • Kogi targets 150,000 metric tonnes of cashew in 2027

    Kogi targets 150,000 metric tonnes of cashew in 2027

    Kogi State has announced plans to achieve 150,000 metric tonnes of cashew production by 2027, as part of Governor Usman Ododo’s agricultural transformation agenda through Kogi State Commodity Exchange Export Promotion and Marketing Development Agency (KOCEPA).

    Speaking in Abuja, Chief Consultant of KOCEPA, Dr. Jude Osilama, said the initiative would revolutionise cashew production and improve livelihoods of farmers.

    Osilama noted that 15 million hybrid cashew trees would be planted in the next three years to replace aged ones, targeting five million farmers. He said the state’s cashew, which is globally recognised for its high quality of up to 52 KRO, is one of the most sought-after varieties internationally.

    “For the first time, cashew will be sun-dried in Kogi according to international standards. The days of transporting cashew to Ogbomoso for sun-drying will end,” he said.

    He explained that the Vietnam Cashew Association (VINACAS) Golden Cashew Rendezvous 2025 in Hanoi recognised Kogi’s cashew as a global brand, adding that the governor’s vision is to sustain Kogi’s position as Nigeria’s leading cashew-producing state, yielding over 120,000 metric tonnes annually.

    Read Also: ‘Nigeria, Vietnam pact on cashew will aid tech transfer’

    Osilama noted KOCEPA, established through legislation signed by Ododo, is mandated to empower farmers with financial assistance, training, and market access, while boosting job creation and internally generated revenue.

    “The government of Usman Ododo has stepped in to revolutionise the cashew industry. KOCEPA has been empowered with forward-looking policies to promote production, facilitate exports, and market Kogi’s agricultural commodities internationally,” he said.

    He also revealed that discussions are ongoing with Vietnamese investors and machinery manufacturers, including Vietnam Machine Company, to set up cashew processing plants in Kogi by early next year.

    “They have confirmed readiness to install processing plants that will export finished cashew products directly to the US, Germany, Japan, the UAE, and other global markets,” Osilama said.

    According to him, Governor Ododo’s goal is to make farmers wealthier by connecting them to global buyers through KOCEPA’s off-take partnerships with the National Cashew Association of Nigeria (NCAN) and international markets.

    “By the end of 2026, our farmers will be smiling to the banks as they begin to enjoy the gains from these new strategic initiatives,” he added.

    Meanwhile, NCAN President, Dr. Ojo Ajanaku, commended Governor Ododo for establishing KOCEPA, describing it as a bold step that will “change the narrative of agriculture in Kogi State.”

    “This is one of the best initiatives for Kogi’s cashew industry. It guarantees productivity, reduces premature harvesting, and protects farmers’ income,” Ajanaku said.

    He called on other governors to replicate KOCEPA’s model to boost agricultural productivity, create jobs, and grow non-oil exports.

    Ajanaku added that the MoU recently signed between Nigeria and VINACAS will strengthen Kogi’s cashew processing capacity, with KOCEPA playing a key role in implementing the partnership.

    “As long as KOCEPA works with NCAN, we are confident that challenges in the cashew industry will be effectively addressed,” he concluded.

  • ‘Nigeria, Vietnam pact on cashew will aid tech transfer’

    ‘Nigeria, Vietnam pact on cashew will aid tech transfer’

    National President of National Cashew Association of Nigeria, Dr. Joseph Ajanaku, has said the  MoU signed with Vietnam in the cashew sector will accelerate growth technology transfer and stronger collaboration with Vietnam.

    Dr. Ajanaku said the MoU was signed  at the 14th Vietnam Cashew Association Golden Cashew Rendezvous, in Hanoi City, Vietnam.

    The agreement, he noted, was signed by association President, Pham Van Cong, for Vietnam, and Ajanaku representing Nigeria.

    He said Vietnam imported over 300,000 metric tonnes of cashew nuts from Nigeria between January and October, an indication of the trade strength between the two.

    Noting that this is the first time Nigeria is signing an MoU with the largest cashew-producing nation in the world, he said the aim  is to facilitate transfer of technology and open more trading partnerships with Vietnam, and other countries.

    He said both acknowledged each other’s unique points.

     “This was recognised in our interaction. They know we have our capacity and strength, and they also recognise they have their capacity and strength. We agree they have technology more than us, and they are well advanced in industrialisation.

    “They have the technology, but we have the capacity to produce more than what any other nation can produce, looking at our arable land.”

    Dr. Ajanaku said: “So, we have this understanding, and this MoU has been signed; it is a game-changer for Nigeria’s cashew industry and a good thing for us to have cashew production and processing enhanced and increased,” he added.

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    He announced that Vietnamese investors will visit to see how they can begin to invest in processing in Nigeria.

    Furthermore, he noted that the MoU is signed for one year, while  implementation will start immediately.

    He said: “It started from the very day that we signed it, and it will be renewed every year.

    “And we are starting with the 2026 season trade, and with the 2026 season, we are going to be exporting them to Vietnam”, Ajanaku said.

    The MoU signing ceremony was attended by Vietnamese government officials, key industry stakeholders, and representatives from Nigeria’s Federal Ministry of Industry, Trade and Investment; Federal Ministry of Agriculture and Food Security; Nigeria Export-Import (NEXIM) Bank; the Kogi State Government; Agro-Trading Consort (Kogi’s agricultural technical partner); and a delegation from the National Cashew Association of Nigeria (NCAN).

  • NCAN warns against cashew export ban

    NCAN warns against cashew export ban

    …says action may depress farmgate prices

    The National Cashew Association of Nigeria (NCAN), the apex body for cashew farmers, processors, and exporters, has rejected calls by a group of processors for restrictions on raw cashew nut exports, warning that such measures would hurt farmers and undermine government policy.

    NCAN in a statement by its president, Dr Joseph Ojo Ajanaku, stressed that cashew farmers remain the backbone of the industry, and any form of export ban or disguised restriction would depress farmgate prices and impoverish millions of smallholder farmers. 

    The association said this would directly contradict the Federal Government’s agricultural diversification and poverty reduction agenda.

    While affirming support for value addition, NCAN argued that Nigeria cannot industrialize by punishing farmers. 

    According to the group, the real barriers to processing lie in high energy costs, lack of affordable financing, and poor infrastructure not raw nut exports.

    Read Also: Cocoa, cashews boost agricultural exports

    The association noted that financing mechanisms already exist through the National Agricultural Development Fund (NADF), the Bank of Industry (BoI), and the Central Bank of Nigeria (CBN) intervention funds. It proposed the creation of Special Agro-Processing Loans (SAP-Loans) at single-digit interest rates of 5% or less to make local processing more competitive.

    NCAN further warned that an export ban would violate Nigeria’s commitments under the African Continental Free Trade Agreement (AfCFTA), discourage both local and foreign investment, and encourage smuggling.

    On innovation, the association highlighted the launch of its Farmers Mapper App, designed to generate real-time agricultural data and provide a transparent planning tool for stakeholders across the cashew value chain.

    “Processors are partners, not adversaries. But industrial growth must be driven by government-backed incentives and innovation, not by punishing the very farmers who sustain Nigeria’s cashew economy.”

  • Nigeria’s cashew export to hit $600m

    Nigeria’s cashew export to hit $600m

    Nigeria’s cashew export earnings may hit $600 million this year, following efforts to increase domestic production to 400,000 metric tonnes.

    Last year, 315,677 metric tonnes of raw cashew nuts that were exported earned the nation $504million.

    Also, the commodity accounted for 5.24 per cent of the country’s non-oil export portfolio.

    Nigeria exported $252million of the product in 2022, making Nigeria Africa’s fourth highest producer of cashew nuts that year.

    Speaking with The Nation, the National President, National Cashew Association of Nigeria (NCAN), Prince Ojo Ajanaku, said there were efforts also to invest in intensive processing and adding more value to ensure products meet strict new international standards.

    He said the association, in collaboration with the Federal Government, is working to ensure the sector exports highly processed cashew products to meet the stringent requirements of buyers, thereby getting better than market prices.

    According to him, the industry needs to focus on improving quality and diversifying products by focusing on deep processing to keep its competitive advantage.

    He noted that the challenges facing producers were that processed products are not diverse with low-added value and poor competitiveness.

    According to him, the industry needs the efforts of individuals, organisations and businesses in the value chain and effective government support.

    Read Also: Farmers, traders decry high cashew prices

    Globally, Nigeria’s cashew export earnings have been growing. The  value, according to the International Trade Centre (INTRACEN), was $73,068,000 in 2014; $64,324,000 in 2015; $28,451,000 in 2016; $ 63,849,000 in 2017; $161,960,00 in 2018;$73,104,000 in 2019; $90,172,000 in 2020; $139,799,000 in 2021 and $156,845,000 in 2022.

    Nigeria’s exports of cashew nuts in shell to Vietnam were $49,246,000 in 2014; $33,354,000 in 2015; $22,797,000 in 2016; $55,751,000 in 2017; $101,669,000 in 2018; $49,765,000 in 2019; $61,972,000 in 2020; $116,925,000 in 2021 and $86,622,000 in 2022.

    Nigeria’s exports of cashew nuts in shell to India was $15,700,000 in 2014; $24,641,000 in 2015, $5,499,000 in 2016; $7,869,000 in 2017; $53,885,000 in 2018; $15,905,000 in 2019, $14,603,000 in 2020; $22,343,000 in 2021 and $64,630,000 in 2022.

    To take advantage of more export opportunities, the President, Federation of Agricultural Commodities of Nigeria (FACAN), Dr Victor Iyama, urged cashew businesses to change their way of thinking, carefully research the market and their conditions and potential to have an appropriate production and business strategy.

  • Oil firm shifts to cashew production, processing

    Oil firm shifts to cashew production, processing

    A player in the downstream oil sector, Fatgbems, said it is also shifting attention to the agricultural sector by specialising in cashew production and processing, catering to the domestic market and facilitating exports within the African region.

     Its Chief Operating Officer, Ayodele Odulaja said the company is targeting to processing approximately 100,000 metric tons of cashew nuts annually, promoting local production and export across African countries such as Nigeria, Benin Republic, Cote d’Ivoire, and Tanzania

    Speaking in Lagos, Odulaja said the initiative is a testament to the company’s commitment to sustainable development and its dedication to contributing to the growth of the Nigerian economy.

    According to him, the company’s agro-allied is a company that is committed to fostering sustainable agricultural development in Africa and commences with cashew production and processing.

     “To further strengthen local production, we have acquired approximately 250 acres of prime agricultural land in the state of Ogun, Nigeria. This land will be instrumental in realizing our vision of bolstering cashew farming in Nigeria and contributing to the nation’s agricultural landscape”

        In alignment with our vision, it is important to note that Nigeria is the second largest producer of raw cashew nuts (RCN) in Africa, after Cote D’Ivoire. As of February 2023, the annual production of cashew nuts in Nigeria stood at 300,000 metric tons. Fatgbems Agro-Allied is poised to play a significant role in enhancing this figure and boosting Nigeria’s position as a key player in the global cashew industry,” Odulaja stated.

        He also said the company’s properties will create exceptional living and working spaces. The company according to him is poised to spread across major industries and in Nigeria with growing need for affordable homes and large industrial layout.

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        According to him, the company’s properties will be launching into the properties and value industry with one of the most modern technology that will close the huge gap between technology and the property industry in Nigeria. We develop and manage properties that meet the highest standards of quality and comfort.

        Meanwhile, he disclosed the intention to restructure the company to transform into a Holding company and a Conglomerate with diverse interests in Petroleum Marketing, Automotive Services & Tyre Trade & Marketing, Agro-Allied, and Real Estate.

        He said the company’s journey began in 1986, with the establishment of Fatgbems Nigeria Limited, a visionary move to cater for the demand for Tyres, prompted by the remarkable growth of the global automobile industry, especially in Nigeria.

        According to him, by 2009, the company had achieved a remarkable milestone by becoming the top distributor of Michelin & Dunlop tyres in Nigeria. This accomplishment, he said, earned the company recognition and honor at the UBA Annual General Meeting (AGM) of 2009, where it was celebrated as one of the bank’s most valued customers.

  • Apapa gridlock, excessive charges take toll on cashew

    Cashew exporters are struggling to get international buyers for cashew nuts as a result of delays in shipment caused by congestion on Apapa Port access  road.

    As a result of the gridlock on the major road leading to the port, some cashew traders said they defaulted on contract and ability to meet up with buyers or get fresh contracts.

    The National Publicity Secretary, National Cashew Association of Nigeria (NCAN), Anga Sotonye said exporters were having difficulty fulfilling their contractual obligations.

    He however commended the Federal Government for mobilising agencies at the port to ensure that cashew shipment at the ports is given prority.

    He told The Nation that the biggest frustration is coming from cashew farmers in Kogi, the highest cashew producing state in the country, exporting about 100 metric tons out of the 220 metric tons of cashew nuts exported by the entire country annually.

    Farmers, traders, merchants and other investors in the cashew industry in Kogi State faced a major glut and poor turnover resulting in heavy losses put at over N50 billion last year farming season.

    Despite this, the state government has instituted various charges ranging from N5000 to N30,000.

    For instance, he said cashew dealers were being made to buy Kogi jute bag at a high rate of N1000 per bag instead of the N470 per bag in favour of the state government.

  • ‘Nigeria cashew exports may fall’

    Nigeria cashew exports could drop this year as exporters continue to fail on delivering on time to importers due to delay in shipments.

    Speaking with The Nation, the Executive Secretary/Chief Executive Officer (CEO) Institute of Export Operations and Management (IEOM), Mr. Ofon Udofia,  said about  37 metric tonnes of  cashew were lying in Vietnam ports, as  importers are asking the exporters to sell at lower the price because the commodity arrived later than the contract  period. The raw nut prices range from between $2,100 to $2,400 per ton.

    He said Nigeria’s hope of exceeding earnings of $402 million from cashew exports this year is threatened, due to the plummeting international prices of the nuts.

    He said the traffic situation at Apapa Ports is causing serious challenge to the nation’s agri exports following delay in shipments.He added that Nigeria’s cashew exports could drop due to falling prices in overseas markets.

    On the infrastructure front, Udofia wants the government to improve ports charged with handling agric exports.

    Most stakeholders are advocating a comprehensive plan to boost cashew production nationwide. These include empowering big, micro-processors and enterprising individuals in cashew nut value addition and ensuring small entrepreneurs get good prices for the crop and restore farmers’ confidence in cashew nut growing.

    Currently, higher operational costs are putting pressure on the cashew industry with many processors and exporters facing adverse credit profile.

    Nigeria produced 220,000 metric tonnes of cashew nuts out of World’s 2.1 million tons last year.