The global cashew market continues to experience robust growth, driven by increasing consumer demand for plant-based proteins and healthy snacking options. Africa, particularly Nigeria, Ghana, and Cote d'Ivoire, accounts for over 50% of global raw cashew nut (RCN) production.
Key Market Trends for 2026:
The demand for processed cashew kernels has surged in markets like India, Vietnam, the United States, and the European Union. India remains the largest importer of RCN, processing approximately 1.5 million metric tons annually. Meanwhile, Vietnam has emerged as the world's largest exporter of processed kernels.
Pricing Dynamics:
RCN prices have stabilized around $1,200–$1,500 per metric ton FOB Lagos, depending on quality grade and kernel outturn ratio (KOR). Premium grade nuts with KOR above 48 lbs command significant premiums in the market.
Opportunities for Nigerian Exporters:
Nigeria's cashew production is concentrated in Kogi, Kwara, Oyo, and Enugu states. With proper quality management and SGS/Bureau Veritas certification, Nigerian cashews are increasingly competitive in global markets. The key differentiator is consistent quality — buyers demand uniform nut size, low moisture content (below 10%), and absence of defects.
Supply Chain Considerations:
Exporters should secure supply contracts early in the season (February–May) when procurement prices are most favorable. Working with established cooperatives and verified collection centers ensures traceability and quality compliance from farm to port.
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