Report Update Mar 1, 2025

Nigeria - Cashew Nuts - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Nigeria: Cashew Nut Market 2025

Cashew Nut Market Size in Nigeria

The Nigerien cashew nut market declined dramatically to $X in 2021, with a decrease of -18.7% against the previous year. Over the period under review, consumption continues to indicate a abrupt slump. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Cashew Nut Production in Nigeria

In value terms, cashew nut production totaled $X in 2021 estimated in export price. In general, production continues to indicate a deep contraction. The pace of growth appeared the most rapid in 2017 with an increase of 23% against the previous year. Cashew nut production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

The average yield of cashew nuts in Nigeria amounted to X tons per ha in 2021, leveling off at the year before. The yield figure increased at an average annual rate of +2.5% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 17%. Over the period under review, the average cashew nut yield hit record highs at X tons per ha in 2014; afterwards, it flattened through to 2021. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, approx. X ha of cashew nuts were harvested in Nigeria; approximately mirroring the year before. Overall, the harvested area saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when the harvested area increased by 5.6%. The cashew nut harvested area peaked at X ha in 2012; however, from 2013 to 2021, the harvested area stood at a somewhat lower figure.

Cashew Nut Exports

Exports from Nigeria

In 2021, cashew nut exports from Nigeria soared to X tons, picking up by 63% on 2020. In general, exports, however, showed a pronounced setback. The most prominent rate of growth was recorded in 2018 when exports increased by 157% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, cashew nut exports skyrocketed to $X in 2021. Overall, exports, however, showed a deep reduction. The most prominent rate of growth was recorded in 2018 when exports increased by 176%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Vietnam (X tons) was the main destination for cashew nut exports from Nigeria, accounting for a 76% share of total exports. Moreover, cashew nut exports to Vietnam exceeded the volume sent to the second major destination, India (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Vietnam amounted to +8.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-16.0% per year) and Singapore (+16.4% per year).

In value terms, Vietnam ($X) remains the key foreign market for cashew nut exports from Nigeria, comprising 75% of total exports. The second position in the ranking was taken by India ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Vietnam amounted to -5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-23.6% per year) and Singapore (+9.6% per year).

Export Prices by Country

In 2021, the average cashew nut export price amounted to $X per ton, which is down by -9.5% against the previous year. Over the period under review, the export price continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2020 when the average export price increased by 14% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (-5.8%), while the prices for the other major destinations experienced a decline.

Cashew Nut Imports

Imports by Country

In 2020, Benin (X tons) was the main supplier of cashew nut to Nigeria, accounting for a 97% share of total imports. It was followed by Kenya (X tons), with a 2.7% share of total imports.

From 2020 to 2020, the average annual rate of growth in terms of volume from Benin was relatively modest.

In value terms, Benin ($X) constituted the largest supplier of cashew nut to Nigeria, comprising 98% of total imports. The second position in the ranking was held by Kenya ($X), with a 1.9% share of total imports.

From 2020 to 2020, the average annual growth rate of value from Benin was relatively modest.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cashew nuts in the world?

Vietnam constituted the country with the largest volume of cashew nut consumption, accounting for 41% of total volume. Moreover, cashew nut consumption in Vietnam exceeded the figures recorded by the second-largest consumer, India, twofold. Burundi ranked third in terms of total consumption with a 6.7% share.

What are the largest producers of cashew nuts in the world?

The countries with the highest volumes of cashew nut production in 2021 were India, Cote d'Ivoire and Vietnam, with a combined 39% share of global production. These countries were followed by Ghana, Burundi, Tanzania, the Philippines, Nigeria, Mali, Benin, Guinea-Bissau, Burkina Faso and Brazil, which together accounted for a further 46%.

What are the leading suppliers of cashew nuts to Nigeria?

In value terms, Benin constituted the largest supplier of cashew nut to Nigeria.

What are the leading importers of cashew nuts from Nigeria?

In value terms, Vietnam, India and Singapore appeared to be the largest markets for cashew nut exported from Nigeria worldwide, together accounting for 95% of total exports.

What is the average export price for cashew nuts in Nigeria?

The average cashew nut export price stood at $1,091 per ton in 2021, growing by 2.1% against the previous year.

What is the average import price for cashew nuts in Nigeria?

The average cashew nut import price stood at $3,166 per ton in 2021, reducing by -13% against the previous year.

This report provides an in-depth analysis of the cashew nut market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 217 - Cashew nuts

Country coverage:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2024
23. Production, In Value Terms, 2012–2024
24. Area Harvested, 2012–2024
25. Yield, 2012–2024
26. Imports, In Physical Terms, 2012–2024
27. Imports, In Value Terms, 2012–2024
28. Imports, In Physical Terms, By Country, 2024
29. Imports, In Physical Terms, By Country, 2012–2024
30. Imports, In Value Terms, By Country, 2012–2024
31. Import Prices, By Country Of Origin, 2012–2024
32. Exports, In Physical Terms, 2012–2024
33. Exports, In Value Terms, 2012–2024
34. Exports, In Physical Terms, By Country, 2024
35. Exports, In Physical Terms, By Country, 2012–2024
36. Exports, In Value Terms, By Country, 2012–2024
37. Export Prices, By Country Of Destination, 2012–2024