Despite its premium quality nuts, poor pricing has limited the value of Nigerian cashew exports to $186.5 million from 273,000 tonnes shipment in the last 15 months. The earnings represent 14 per cent of $1.44 billion their competitors earned in the period, leading to a shortage of N1.3 billion or 86 per cent. It was learnt that while a tonne of the nuts cost $5,311 as at June 30, 2024, the same was sold at $664 in Nigeria.
Data by the National Bureau of Statistics (NBS) explained that the 2023 earning was $128.9 million and $57.6 million in Q1’24. Findings revealed that 70 per cent of the total nuts were exported to Vietnam in 2023. Nigeria is a leading exporter of premium quality raw cashew nuts, with an average 48 kernel yield…
Read more at Newtelegraphng
Data by the National Bureau of Statistics (NBS) explained that the 2023 earning was $128.9 million and $57.6 million in Q1’24. Findings revealed that 70 per cent of the total nuts were exported to Vietnam in 2023. Nigeria is a leading exporter of premium quality raw cashew nuts, with an average 48 kernel yield…
Read more at Newtelegraphng
