On 16-19 September 2013, the African Cashew Alliance (ACA) will hold the World Cashew Festival and the Expo13 in Lagos, Nigeria at the Eko Hotel Suites. Cashew farmers, processors, traders, exporters, services providers, retailers, equipment manufacturers, bankers, and governments will certainly convene again to shape tomorrow’s cashew industry.
The 2013 World Cashew Festival will be a unique platform from which to do business, exchange practices, and learn from experts from around the world. The World Cashew Expo13 will offer opportunities to meet with equipment manufacturers and service providers. This year the Cashew Festival’s focus will be put on one of the industry’s most significant multipliers: cashew consumption and its forces. In future years an increase in consumption of African cashew will boost emerging markets and offers huge business potential to be tapped by local and foreign investors.
On its 300,000 hectares of cashew farms, Nigeria produced a total of 85,000MT of nuts in 2012, making it the fifth largest producer in Africa. In 2012 Nigeria had an installed processing capacity of about 42,000 MT while actually processing about 30,000MT. With a population of 150 million people Nigeria is the most populous country in Africa, making it one of the most promising potential consumption markets.
“I’m very encouraged. This is the first time I’ve come to West-Africa. There are large investments and smaller investments – it’s happening now. The food quality is building quickly. The supply chain is set up to handle raw seed – it’ll just switch to handling kernels’,' an international buyer referred at the 7th ACA Annual Conference in 2012 Cotonou, Benin.
The development of the cashew industry in Africa
Formerly neglected as an important force in cashew business, the African cashew sector has become a highly visible contributor during the last 10 years. With a yield of more than one million tons of raw cashew nut in 2012, that is 45% of the world’s total crop, Africa is now the world’s largest producer of RCN. Between 2011 and 2012 processing has increased from 82,000 tons to 115,000 tons, and continues to show rising tendencies – these promising prospects draw investors from all parts of the world.
For more information:
African Cashew Alliance
Tel: +233 0302 77 41 62