Nigeria, Vietnam Sign Deal to Boost Cashew Trade, Technology Exchange

News in Brief:

-The Nigeria-Vietnam partnership focuses on trade, technology transfer, and sustainable farming practices in the cashew sector.

-The collaboration is expected to improve processing capacity, expand market access, and create rural jobs.

The National Cashew Association of Nigeria (NCAN) and the Vietnam Cashew Association (VINACAS) signed the MoU at the 14th VINACAS Golden Cashew Rendezvous 2025 in Hanoi. The three-day event, held from October 26 to 28, marked VINACAS’ 35th anniversary and brought together stakeholders across the cashew value chain.

This agreement will promote trade in raw and processed cashew, encourage the exchange of processing technologies, support joint investments, and develop sustainable farming practices in both countries.

Technology Transfer and Capacity Building

Pham Van Cong, President of VINACAS, noted that the organisation’s 500 member companies would share industrial experience and technological expertise with Nigerian partners. The collaboration aims to increase processing capacity, improve product quality, and expand cashew-based products such as beverages and by-products.

Dr Ojo Joseph Ajanaku, NCAN President, said Nigeria exported 420 million dollars worth of cashew to Vietnam in 2025. He emphasised that the partnership will boost value addition, increase market access, and create employment opportunities in rural communities. Kogi cashew, recognised as the most nutritious globally, will be a focal point for research and innovation.

A joint working committee will monitor the MoU’s implementation and report progress annually. The signing ceremony was attended by representatives of Nigerian government agencies, financial institutions, and private sector stakeholders, including NEXIM Bank and the Kogi State Commodity Exchange.

NCAN stated that Nigeria, producing over 500,000 metric tonnes of cashew annually, could increase export earnings above 500 million dollars with expanded processing and value addition.