Nigeria Raw Cashew Export To Vietnam Slumps 29% To N110bn

Nigeria’s raw cashew nuts earning from Vietnam has been down by 29 per cent, following shipment of 49, 507 tonnes valued at N110bn ($79million) in May 2026. It was gathered that export to the country was 69,728 tonnes the same period last year but Nigeria high price created opportunity for other competitors to export more nuts.

This year, Côte d’Ivoire which exported 51,603 tonnes in 2025 has increased export by 93 per cent, leading to shipment of 107,090 tonnes in May. Nigeria benchmark for export is $1,600/ tonne, while Cote d’Ivoire is $960/ tonne, making 60 per cent difference.

Findings from General Department of Vietnam Customs (GDVC) indicated that four African countries shipped nearly 339,000 metric tonnes of cashew nuts, accounting for about 23 per cent of Vietnam’s imports between January and May 2026 as the country imported nearly 1.45 million metric tonnes of cashew nuts from the international market during the first five months of 2026.

Vietnam Customs also explained that while the volume was up 12 per cent from the same period in 2025, the performance of the leading suppliers varied widely, particularly among Tanzania, Côte d’Ivoire, Ghana and Nigeria, noting that Tanzania exported 154,153 metric tonnes to Vietnam, up 16 per cent from 2025’s shipments.

It was gathered that because of high demand, Vietnam imported 1.3 million tonnes of the nuts between January and April 2026 at a cost of around $2.17 billion.

Recall that the National Cashew Association of Nigeria (NCAN) has called for massive investment in local cashew processing of raw cashew in the country, noting that it would be a strategic step to reposition Nigeria in the global market, create jobs, and grow export revenues as processed cashew is valued at $4,500 per metric tonne in the global market. Findings revealed that if the cashew nuts are processed, exporters would gain extra 79 per cent in value.

The President of NCAN, Ojo Ajanaku had also noted that the country was processing less than 10 per cent of its annual production, explaining that Nigeria risks losing out on the projected global cashew industry growth from $9.8 billion to $11.8 billion unless it steps up efforts to add value locally.

Meanwhile, the National Apex of Cashew Farmers, Processors and Marketing Cooperative Limited has said that it would focus on enhancing the processing of raw cashew nuts to boost the country’s agribusiness by empowering rural cashew farmers, processors and marketers.

The President, National Apex of Cashew Farmers, Processors and Marketing Cooperative Ltd, Mr Yunusa Enemali said in Abuja that this would be done through collaborative efforts, capacity building and advocacy.

According to him, the cashew sector plays a vital role in poverty reduction among farmers and other actors as well as promoting diversification of agricultural education exports.

He exained: “The cashew industry provides opportunities for women and youth inclusion, and it enables the processing of other products from cashew for local consumption.

In spite of being one of the largest producers of cashew nuts in the world, our industry is hindered by limited access to finance and markets, inadequate infrastructure and technology.

“Additionally, we face challenges related to quality research institutes, quality assurance, and standardisation. These challenges must be addressed to unlock the full potential of the cashew sector.” Enemali stressed that the cashew sector in Nigeria had tremendous potential and value chain addition, especially at the rural communities.

The president added that the benefits of cashew sector were undeniable as it contributed to economic growth, wealth, and job creation while also increasing foreign earnings, saying that the sector plays a vital role in poverty reduction among other actors, and it promotes diversification of agricultural education exports.

In February, a Singapore based agricultural commodities trader, Robust International announced plans to build a new cashew processing facility in Ogun State to strengthen value addition in the cashew sector.

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