Stakeholders call for establishment of Cashew Board to boost foreign exchange

Stakeholders in the Cashew industry have called for the establishment of a Cashew Board, to boost foreign exchange earnings for the country and generate more jobs for the people.

The stakeholders made the appeal in interviews with the News Agency of Nigeria (NAN) on Wednesday, at the end of a two-day workshop in Ilorin.

NAN reports that the workshop centred on the theme: “Cashew business Competitiveness and sustainability”.

The stakeholders also appealed to the Federal Government to assist cashew farmers and processors in the country through the provision of a special fund, to boost cashew production.

Chief Emmanuel Ezeagu, Deputy Director (Product Development), Nigerian Export Promotion Council, (NEPC) said the Board would protect the interests of cashew farmers.

He added the board, when established, would ensure that Nigerian cashew species were of high quality and also source markets for them.

Ezeagu, who described cashew business as a money spinner, because of the high demand for the cashew nuts, added that Government should assist farmers to improve and increase production.

“Cashew, right now, is a money spinner; there are lots of Indians and Vietnamese coming to Nigeria to buy the raw cashew nuts.

“The market for cashew nuts is so huge that Nigerian cashew farmers should take advantage of it,” Nzeagu said.

He also called on both the states and local governments to encourage farmers to venture into the cashew plantation business.

The Deputy Director said state governments can assist cashew farmers with improved seedlings, fertilizers and micro-credit loan facilities.

The President of the National Cashew Association of Nigeria (NCAN), Mr Tola Fasheru, decried the high cost of processing a ton of cashew in Nigeria.

He said it costs 500 US dollars to process one ton of cashew, whereas it costs about $250 in India and $217 in Vietnam to process the same quantity of cashew.