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NEPC Predicts Nigeria Cashew Nut Output Annual Growth Rate Reaches 20%

Pubtime:2016-08-01Author:Source: Hits:

As reported by Business Daily of Nigeria, the Secretary General of Nigeria Export Promotion Commission (NEPC) said under joint efforts of government, farmer association and farmers, the cashew nut plantation area in Nigeria increases, varieties improve, and logistics and processing industrial chain is perfected further. The annual growth rate of raw cashew nut output in next two years will reach 30%. According to statistics of NEPC, the raw cashew nut (RCN) output ranks the fourth in Africa and the 7th in the world currently. In 2011, the RCN exported to Vietnam reached USD 140 Million, and cashew nuts reached USD 46 Million. The RCN output in 2013 and 2014 is respectively 130,000t and 150,000t, and the output in 2016 will be 175,000t by prediction. According to the current price in international market, USD 1200 per ton, the income of Nigeria for cashew nuts will reach USD 20 Million. In order to further expand incomes from cashew nut, NEPC is creating Nigeria cashew nut industrial value chain under help of USA International Development Agency.