Nigeria:Cashew exporters to lose N44.3bn

There is an indication that Nigerian cashew exporters would lose N44.3 billion ($122million) this year from its projected N196.38 billion ($542.5 million) in the Asian market if the outbreak of coronavirus is not contained.

Nigeria had projected producing 350,000 metric tonnes of the nuts in 2020 season but finding revealed that the price of the nuts has dropped from $1,550 per tonne to $1,200 per tonne in the last few weeks.

Nigeria, a member of the International Consultative Cashew Council (ICCC), is the fourth largest producer of cashew in the world and its major trading partners are the African Cashew Alliance (ACA), Vietnam Cashew Association and...read more