The report was presented by Mr Roland Oroh, a cashew sector analyst and founder and director of the Agribusiness Register.
The high point of the presentation was the official launch and media presentation of the Nigeria Cashew Technical Assistance Facility , a new product from the Agribusiness Register to offer technical services to increase RCN production and processing and brand development of kernels of Nigerian origin to the international market, amongst other services.
According to Oroh, Nigeria is estimated to have a good crop in 2023 following good weather conditions in most of the key production zones namely Kogi, Kwara, Ogbomosho and some parts of the eastern region.Following the flag-off and commencement of trading for the year by the National Cashew Association of Nigeria in Benin City, Edo, on Jan. 24, 2023, price of RCN kicked off at around N400 per kilogram .
The report also presents a new development in the international RCN arena: Vietnam in the last two years has consistently procured large volumes of RCN from Cambodia, a neighboring country.In 2021 and 2022, Vietnam imports over one billion dollar worth of RCN from Cambodia respectively. In addition, Vietnam is not expanding her processing capacity any longer, according to local industry sources.