Cashew Association Warns Against Export Ban Threatening Farmers

Dr. Joseph Ajanaku, President of the Nigerian Cashew Association (NCAN), has issued a warning against a proposed ban on the export of raw cashew nuts, stating that such a policy would severely threaten the livelihoods of farmers across Nigeria.

During a press conference, he highlighted that without adequate government incentives, cashew processors would struggle to remain profitable due to high interest rates ranging from 25% to 35% and rising energy costs. He noted that the cashew industry employs five million Nigerians and that logistical costs consume 40% of farmers' earnings.

Ajanaku emphasized the need for a balanced approach from the federal government to support both farmers and processors, including providing low-interest loans of 3% to 5%. He also addressed internal tensions within the association regarding leadership and policy disagreements, affirming the unity of the NCAN despite challenges.

The association has resisted external pressures that could harm the Nigerian cashew sector, which is crucial for smallholder farmers.