Nigerian cashew producers are working on a four-year plan to cultivate more land and boost exports more than threefold to 500,000 metric tons a year to feed a growing export market. With about 160,000 hectares (395,000 acres) of land producing about 150,000 tons a year.
Farmers are seeking to bring an additional 340,000 hectares into cultivation to achieve industry targets, President, Nigerian Cashew Association which groups farmers and traders, Tola Fasheru, said in an interview in Lagos.
That should raise annual export income from the product to at least $650 million from the $253 million earned in 2015, he said. Nigeria exports more than 80 per cent of its cashew output, mostly as raw kernels, with about 60 per cent of last year’s shipments going to Vietnam, according to the cashew association.