Almond Cashew Nut

Posted on January 10, 2012 by Admin
Almond Cashew Nut

Almond Cashew Nut

Africa wants to cash in on cashew processing to help create more jobs and reduce poverty on the continent. But increasing Africa’s local processing of cashews for export to the major US and European markets has been a tough nut to crack. Millions of rural farmers in Africa cultivate cashew trees but most of the crop is processed outside of the continent.

Africa Could Earn $300 Million Annually Processing Cashews

Africa is responsible for a third of the world’s cashew crop. However, 90 percent of production is exported in raw nut form to India and Vietnam, where the value almost doubles through processing. Most of it is then shipped to European and American markets. If Africa processed its entire cashew crop locally it could create more than 200,000 jobs in rural areas and generate $300 million in added value per year, according to the African Cashew Alliance(ACA). By selling most of their crop to India, African producers are left with a restricted export market and limited profits from their produce.

The Cashew Nut Is a Tasty Snack Beloved By Millions of Consumers

The cashew is a tasty snack enjoyed by millions of consumers the world over. Cashews can be munched on between meals or nibbled while enjoying your favorite cocktail. Cashew nuts are high-value food with strong demand from the American and European consumer markets. The US and Europe account for more than half of the world’s cashew consumption. Cashews are the largest segment of the US tree nut import market, representing 68 percent of all shelled tree nut imports in 2009. The price of cashews is much higher than peanuts or other snacks like pretzels or potato chips. The cashew nut is a tasty delicacy often referred to as a luxury product.