Post by Trade facilitator on Feb 9, 2011 4:11:57 GMT 1
Cashew: Cashew (Anacardium Occidentale L.) is a tree crop of considerable economic importance to Nigeria and other tropical countries. Major cashew growing areas in Nigeria are, (by order of importance): enugu, Abia, Imo, Anambra, Ebonyi and Cross River States in the eastern part of the country; Oyo, Osun, Ondo, Ekiti and Ogun State in the western part; Kwara, Kogi, Nassarawa, Benue, Taraba, Niger and FCT in the middle belt as well as Sokoto and Kebbi States in the north western part of the country. The majority of quality exportable nuts come from the Western and eastern parts of the country. The major buyers of cashew nuts from Nigeria are mainly India and Singapore. A smaller percentage goes to Europe. The export free on board (FOB) price of raw cashew nut varies from about USD 500 to 600/MT. However, when an exporter adds value to this product by processing it into kernels, the fob price could quadruple that of raw cashew nut. The local price per metric tonner (MT) of raw cashew nuts delivered to Lagos varies from NGN40,000.000 during the peak season to about NGN80,000.00 at the off season. The return on investment is normally 31%.
