Price of raw
cashew nuts fell by 50 per cent from N600, 000 ($1,666) per metric tonne in
April 2018 to about N300, 000 ($833) in July of the same year. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html Currently, cashew sells for $1,100 per
MT, signalling 34 per cent drop in price from last year.
While speaking during a cashew
investment and exhibition forum in Lagos on Wednesday, the Executive Director
and Chief Executive Officer, Nigerian Export Promotion Council, Olusegun Awolowo, noted that the
programme was informed by the persistent downward prices of RCN that had, in
turn, resulted in supply glut in producing countries including Nigeria.
Hmmm!!! Folks, let
us say the truth and shame the devil. Many Nigerian non-oil products exporters
have been defrauded of huge amount of money in the process of exporting
agricultural commodities and solid minerals to foreign countries. Do you know
why? They were not trained on export operations, management, documentations and
the best methods of payment in export trade. This is terrible!!! Nigerians
cannot continue to lose money to foreigners in the course of export business.
Exporters, would you like to keep on being scammed? Why don’t you get a
practical manual that explains the stages of export trade from processing and
packaging of commodities to receipt of payment by the foreign buyers? It
explains export operations, export management, export documentations and
methods of payment in export trade? Yes, it is a contemporary step-by-step
guide to export trade. It tells all the contemporary dynamics in export trade.
To get it, click on the link below:
http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
Awolowo, who was represented by the Director,
Product Development department of the agency, William Ezeagu, stressed the need to increase investment in cashew
processing to add value to the cashew value chain.
The forum brought together cashew
processors, intending processors and exporting companies planning to venture
into cashew processing as well as the relevant government ministries,
departments and agencies that have a role to play in the cashew value chain.
Also, development
financial institutions were invited to lend support to willing investors in the
cashew processing business. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
Awolowo noted that Nigeria was
currently one of the major exporters of raw cashew nuts in the world but lacked
processors. He said, “It is important to invest in
processing. Cashew kernel export is a major opportunity for Nigeria. Nigeria
exports RCN whereas 50 per cent processing will create 9,000 jobs with a chain
of economic multiplier effects. Cashew processing in Africa is not prominent as
raw cashew nuts/cashew kernels dominate exports.”
The Managing
Director, African Cashew Alliance, Ernest
Mintah, said although Africa produced 55 per cent of RCN globally, only
five per cent processing was happening on the continent. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html By so doing, jobs meant to be created
in Africa were being taken to countries where the processing was being done, he
said.
He lamented the lack of investment and
interest from financial institutions in the sector which he described as
capital intensive, adding that at least $2m was required to start a cashew
processing business and most banks in Africa were not ready to give out a huge
amount of money on a long term basis.
Fellow Nigerians,
are you aware that our crude oil will soon become useless? Yes, it will, in no
distant time, become valueless owing to the fact that the countries that rely
on it as their only source of energy are developing more affordable alternative
sources of energy. When this finally happens, what will we do? How are we
currently preparing for this imminent economic doom? Which other sector will
continue to stabilize our economy? Nigerians, the only solution is developing
the agricultural sector. In fact, this is the only solution. Very soon, the
major source of revenue will become agriculture and agro-exports. How are you
positioning yourself to play big in agro-export business? Why don’t you get a
practical manual that explains the stages of export trade from processing and
packaging of commodities to receipt of payment by the foreign buyers? Yes, arm
yourself with the contemporary trends in export trade. This manual explains
export operations, export management, export documentations and methods of payment
in export trade? Yes, it is a contemporary step-by-step guide to export trade.
It tells all the contemporary dynamics in export trade. To get it, click on the
link below:
The Vice Chairman, National Cashew
Association of Nigeria, Garba kontagora,
said sensitisation was needed to enlighten operators and farmers about good
agricultural practices in the sector, saying that some farmers removed cashews
from trees before they were ripened and even used carbide to force them to
ripen.
A cashew processor and Managing
Director, Foodpro, Ayo Olajiga, said
the cashew processing industry in Nigeria was fraught with challenges ranging
from infrastructure to poor quality cashew nuts and lack of local market for
processed cashew. (Punch)
Are you an exporter? Do you like
to master the contemporary dynamics of non-oil export trade and avoid getting
defrauded by the foreign buyers of your exportable products? Click on the link
below:
Have you ever imagines how the
financial status of your company will grow when more than 20,000 CEOs and top
managers of multinational companies pay for your products and services? For
more information, click on the link below:
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