ALL AGRI #Cashew Production

The value of the cashew nut market in Africa surged to $890M in 2024, growing by 19% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $1.5B in 2018; however, from 2019 to 2024, consumption stood at a somewhat lower figure.

Nigeria is making a strong push to expand its presence in the global cashew market, as exports of the nut reached an impressive $398 million. This growth is particularly significant as cashews are now one of the top agricultural exports for Nigeria, alongside products like cocoa and sesame seeds. The country is positioning itself as a key player in the global cashew trade, with efforts aimed at improving both the quality of its cashew nuts and the value chain from farming to export.