CAC News
Cashew farmers in Nigeria, under the umbrella of the National Cashew Association of Nigeria (NCAN), have urged the Federal Government to reconsider a proposed ban on cashew nut exports, warning that such a move could deepen rural poverty.
Leaders of the association in Oyo and Kwara States, Salami Adebayo Tunde and Omotosho Theophilus Tunde, voiced their concerns while speaking to journalists in Ilorin.
Global Cashew Market Pressures
The farmers’ concerns come at a time of rising cashew prices worldwide, driven by tightening global supplies and sustained demand from major processing and consumption markets.
In Cambodia, cashew nut prices have climbed above $1,700 per tonne, fueled by supply shortages linked to adverse weather conditions, reduced harvests in key producing areas, and continued demand growth from China, Europe, and other Asian markets. While the price surge has improved income prospects for farmers, it has also increased cost pressures for buyers.
Vietnam, the world’s largest cashew processor, has also been affected by the supply crunch. During the first ten months of 2025, Vietnamese companies reportedly spent nearly $4 billion importing raw cashew nuts, with average prices rising by about 21 percent year on year. The increase was attributed to dwindling domestic stocks and higher export volumes from suppliers such as Cambodia.
In India, industry stakeholders in Andhra Pradesh have cited persistent shortages of raw cashew nuts, disrupting processing operations and prompting calls for the adoption of higher-yield cashew varieties to boost domestic supply and reduce reliance on imports.
Outlook Remains Volatile
Market analysts note that cashew prices are likely to remain volatile due to ongoing supply chain disruptions, weather-related impacts in West Africa—a major producing region—and fluctuating global demand. These factors, they say, could keep prices elevated into 2025 and beyond.
