Revenue: Nigeria loses N3.18trn to poor cashew processing

Lack of processing equipment made Nigeria to lose $1.98 billion in global cashew market in 2023 from its 370,000 tonnes. It was learnt that Vietnam, with enough processing machines, earned $2.1 billion from the same quantity, when compared with Nigeria export.

According to the country’s General Department of Customs, in the first 11 months of 2023, Vietnam’s cashew nut exports, estimated at 582,000 tonnes worth $3.31 billion, up 23.1 per cent in volume and 17.4 per cent in value compared to the same period in 2022.

Read more at Newtelegraphng

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