• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Sectors Agriculture

Nigeria, Vietnam to deepen trade and investment, boost local processing in cashew sector 

Anthonia Obokoh by Anthonia Obokoh
April 10, 2025
in Agriculture, Sectors
Nigeria, Vietnam to deepen trade and investment, boost local processing in cashew sector 
Share on FacebookShare on TwitterShare on Linkedin

Nigeria and Vietnam have begun formal discussions to deepen trade and investment in the cashew sector, focusing on boosting local processing and transforming its value chain.

This development was revealed by Dr. Ojo Ajanaku, the National President of the National Cashew Association of Nigeria (NCAN), in Abuja on Wednesday.

The announcement followed a closed-door meeting between Ajanaku, Ms. Nguyen Phuong, the Head of Delegation, and other representatives from the Vietnamese Embassy.

RelatedStories

AI to cut global IVF costs, push remote work to $127billion by 2030 – Expert  

AI to cut global IVF costs, push remote work to $127billion by 2030 – Expert  

July 26, 2025
Dangote Refinery

Dangote Refinery receives 4,000 CNG trucks in Lagos ahead of August 15 fuel distribution rollout 

July 26, 2025

“We have been working towards signing some contracts, and we are hopeful they will be successful,” he said.

“With this Joint Trade Committee (JTC) and additional Memoranda of Understanding (MoUs), we believe we can achieve great things for the country and elevate the cashew industry in a way that benefits our stakeholders,” Ajanaku added.

Strengthening bilateral relations 

He emphasized that the initiative would further strengthen Nigeria’s bilateral relationship with Vietnam, noting that foreign investment brings increased commitment and facilitates knowledge sharing.

“There is no such thing as technology transfer unless it is bought or stolen. But this time, they are coming to us willingly, which means we will benefit from direct technology transfer,” he explained.

He added that the bulk of cashew processing would now be carried out locally, eliminating the need to export raw cashew nuts for processing abroad.

“I can say our farmers’ prayers have been answered. They will now be in high demand and valued for the quality of their produce. 

“No longer will they be forced to give away their cashew at low prices; it will now command the worth it truly deserves,” he stated.

Nigeria’s ideal climate for cashew production 

Ajanaku also highlighted the uniqueness of cashew as a commodity, pointing out that not all countries have the favourable conditions required for its production.

“Nigeria is fortunate to have the right climate and weather, which enables us to grow cashew. I say congratulations to our farmers; they should continue to support this initiative and pray for its full realization,” he added.

Vietnam, a key player in the global cashew market, is ranked among the top producers worldwide.

Over the years, Nigeria has been a leading supplier of raw cashew nuts to the Southeast Asian country. Nigeria is a major and growing player in the cashew industry with rising market share in global cashew production, with an annual average production increase of 5%.

Production is projected to go only one way: upwards. By 2030, we will produce 300,000 metric tonnes of cashew.


Follow us for Breaking News and Market Intelligence.
Anthonia Obokoh

Anthonia Obokoh

Anthonia Obokoh is journalist with years experience in the media industry, focusing on health reporting. Known for her expertise as a health writer and analyst, she brings depth to topics from public health policies to healthcare advancements. Her work has earned her recognition as a trusted voice in Nigeria’s health journalism field.

Related Posts

AI to cut global IVF costs, push remote work to $127billion by 2030 – Expert  
Health

AI to cut global IVF costs, push remote work to $127billion by 2030 – Expert  

July 26, 2025
Dangote Refinery
Energy

Dangote Refinery receives 4,000 CNG trucks in Lagos ahead of August 15 fuel distribution rollout 

July 26, 2025
Broadband infrastructure
Sectors

Nigeria’s broadband gap costs economy $15 billion annually- Yinka Isioye

July 26, 2025
MRS Oil
Equities

MRS Oil shares suspended on NGX ahead of voluntary delisting, plans NASD listing 

July 26, 2025
Canelo Alvarez wins record $630K after betting on Usyk at 1win 
Companies

Canelo Alvarez wins record $630K after betting on Usyk at 1win 

July 26, 2025
Recycling: How these small businesses make millions selling aluminium monthly
Business News

Nigeria’s scrap and waste sector targets additional 5million new jobs by end of 2025 

July 26, 2025
Next Post
Nigerian faces ‘20-year jail’ case over alleged $2.5 million romance scam indictment in US

Nigerian faces ‘20-year jail’ case over alleged $2.5 million romance scam indictment in US

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

first bank








DUNS

Recent News

  • AI to cut global IVF costs, push remote work to $127billion by 2030 – Expert  
  • Dangote Refinery receives 4,000 CNG trucks in Lagos ahead of August 15 fuel distribution rollout 
  • Nigeria’s broadband gap costs economy $15 billion annually- Yinka Isioye

Follow us on social media:

Recent News

AI to cut global IVF costs, push remote work to $127billion by 2030 – Expert  

AI to cut global IVF costs, push remote work to $127billion by 2030 – Expert  

July 26, 2025
Dangote Refinery

Dangote Refinery receives 4,000 CNG trucks in Lagos ahead of August 15 fuel distribution rollout 

July 26, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics