Post by Trade facilitator on Mar 21, 2021 21:31:09 GMT 1
Nigerian Cashew Now Listed On AFEX Commodities Exchange Trading Platform
One of Nigeria’s foremost Commodities Exchanges, AFEX Commodities Exchange has added cashew to its platform in order to diversify investment options available to the investing public on its exchange.
This information was disclosed by AFEX Commodities management in a recent statement to the investing community. The notice stated that the current listing of cashew will expand its existing commodities available at the exchange which include:
Sorghum
Maize
Soybean
Paddy Rice
Cocoa
Ginger
Sesame Seeds
The Exchange also notified the investing public that the new commodity, cashew will be made available on the exchange’s trading platform, ComX.
Nigeria is the 4th largest producer of Cashew in the world. This shows a huge market there for us to tap into.
Cashew is produced in many states in Nigeria including:
Abia, Abuja FCT, Enugu, Imo, Kaduna, Kwara, Kogi, Niger, Oyo, and some other states in the country.
Getting cashew in Nigeria to sell whether for export or locally is not a big deal as the product is cultivated in many states of the country.
The exchange explained that it has listed the commodity on its platform because of the great potential that cashew has, and it is a lucrative business. According to the exchange, it has a lot of untapped potentials.
The exchange said that cashew export in Nigeria is highly profitable, with a yearly export volume of more than $167 million, and untapped yearly potential of about $115.8 million. Therefore, listing the commodity on the AFEX Exchange is a wise decision as it will afford investors opportunities to gain exposure to the commodity and maximize their return on investment.
Over 80% of raw cashew nuts produced in Nigeria are exported to India and Vietnam. Reports show that the local cashew industry is currently earning about N150 million, while raw cashew exports bring in about US$167 million.
The cashew crop season in Nigeria is from February to May, but trading in cashew is usually all year round as some farmers will still preserve theirs for more profit.
We still have a market in the processed cashew market, processed cashew nuts are exported to Europe and America, and they are the largest consumers of processed cashew nuts in the world.
The yield of the kernels, percentage of defective nuts, average size of the nuts, and the moisture content are used to determine the quality of the nuts; this in turn determines the price the buyer will be ready to offer for the raw cashew nuts.
We earlier brought you a report about AFEX explaining to you that the Commodities Exchange is Nigeria’s first private commodities exchange established in 2014.
We also brought to you information that AFEX Commodities Exchange is the first commodities exchange in Africa to introduce Warehouse Receipt-Backed Commercial Paper.
In another article we told you that AFEX commodities exchange has partnered with FMDO, Dubai Commodities Exchange to deepen markets opportunities in Nigeria.
AFEX Commodities Exchange has made commodities trading in Nigeria a lot easier by using a three pronged approach of segregating them into production region, logistics differential, and final commodity price.
ComX is the trading platform for AFEX. It serves as a market for investors, financiers, and as well as other market participants.
This fast growing Exchange posted a turnover of N11.46 billion for the fourth quarter of 2020, showing an increase of 5,228.4%
The exchange has setup a trading platform where they link producers and consumers of commodities with a system that supports a fair exchange of value that creates trust economy where producers, processors and investors can fulfill their potential for increased productivity and wealth creation.
The platform enables them to provide participants with a system to carryout trades seamlessly.
We will continue to monitor this platform in order to bring you reports, and also how you can be trading on the platform as a small scale farmer, trader or investor.
Stay with us.
One of Nigeria’s foremost Commodities Exchanges, AFEX Commodities Exchange has added cashew to its platform in order to diversify investment options available to the investing public on its exchange.
This information was disclosed by AFEX Commodities management in a recent statement to the investing community. The notice stated that the current listing of cashew will expand its existing commodities available at the exchange which include:
Sorghum
Maize
Soybean
Paddy Rice
Cocoa
Ginger
Sesame Seeds
The Exchange also notified the investing public that the new commodity, cashew will be made available on the exchange’s trading platform, ComX.
Nigeria is the 4th largest producer of Cashew in the world. This shows a huge market there for us to tap into.
Cashew is produced in many states in Nigeria including:
Abia, Abuja FCT, Enugu, Imo, Kaduna, Kwara, Kogi, Niger, Oyo, and some other states in the country.
Getting cashew in Nigeria to sell whether for export or locally is not a big deal as the product is cultivated in many states of the country.
The exchange explained that it has listed the commodity on its platform because of the great potential that cashew has, and it is a lucrative business. According to the exchange, it has a lot of untapped potentials.
The exchange said that cashew export in Nigeria is highly profitable, with a yearly export volume of more than $167 million, and untapped yearly potential of about $115.8 million. Therefore, listing the commodity on the AFEX Exchange is a wise decision as it will afford investors opportunities to gain exposure to the commodity and maximize their return on investment.
Over 80% of raw cashew nuts produced in Nigeria are exported to India and Vietnam. Reports show that the local cashew industry is currently earning about N150 million, while raw cashew exports bring in about US$167 million.
The cashew crop season in Nigeria is from February to May, but trading in cashew is usually all year round as some farmers will still preserve theirs for more profit.
We still have a market in the processed cashew market, processed cashew nuts are exported to Europe and America, and they are the largest consumers of processed cashew nuts in the world.
The yield of the kernels, percentage of defective nuts, average size of the nuts, and the moisture content are used to determine the quality of the nuts; this in turn determines the price the buyer will be ready to offer for the raw cashew nuts.
We earlier brought you a report about AFEX explaining to you that the Commodities Exchange is Nigeria’s first private commodities exchange established in 2014.
We also brought to you information that AFEX Commodities Exchange is the first commodities exchange in Africa to introduce Warehouse Receipt-Backed Commercial Paper.
In another article we told you that AFEX commodities exchange has partnered with FMDO, Dubai Commodities Exchange to deepen markets opportunities in Nigeria.
AFEX Commodities Exchange has made commodities trading in Nigeria a lot easier by using a three pronged approach of segregating them into production region, logistics differential, and final commodity price.
ComX is the trading platform for AFEX. It serves as a market for investors, financiers, and as well as other market participants.
This fast growing Exchange posted a turnover of N11.46 billion for the fourth quarter of 2020, showing an increase of 5,228.4%
The exchange has setup a trading platform where they link producers and consumers of commodities with a system that supports a fair exchange of value that creates trust economy where producers, processors and investors can fulfill their potential for increased productivity and wealth creation.
The platform enables them to provide participants with a system to carryout trades seamlessly.
We will continue to monitor this platform in order to bring you reports, and also how you can be trading on the platform as a small scale farmer, trader or investor.
Stay with us.
