07:16
Mr Audu Ogbeh, the Minister of
Agriculture and Rural Development on Tuesday said the country will start
exporting it’s processed cashew nut by 2019 to other countries.
The Minister reveal this statement at
the maiden edition of the 2017 First Bank Agric Expo in Lagos which was tagged “Reinventing
Agriculture for Sustainable National Development”.
He also revealed that it is better to
export the processed cashew nut than exporting it raw.
According to Audu, the current worth of
the tonne of roasted or processed cashew nut for export is $10,000 while the
raw cashew nut is sold for $1,200.
“So in the next two years we will no longer export raw cashew
nuts, but roast the cashew nuts for export.
“If we produce a tonne of roasted cashew it will be sold
at the international price of $10,000, whereas a tonne of raw cashew nuts sells
for $1,200.”
Mr Audu Ogbeh, also said that Nigeria shipped a total of $600,000
worth of raw cashew nuts to Vietnam alone in 2016.
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