Zambia’s government is prioritising cashew production as part of its economic diversification and poverty reduction strategy.
The government sourced US$55.42 million to revive the industry.
The project aims for an output of 6 million productive cashew trees.
Globally, the cashew industry is currently producing around 2,463,000 metric tonnes of raw cashew, of which 48 percent or 1,188,000 metric tonnes is produced in Africa.
In Zambia, the current cashew nut production stands at 850 metric tonnes per year from an estimated 1,700,000 trees that produce 0.5kg of raw nuts per tree annually.
The current cashew prices stand at around US$6,000 per tonne.
Cashew is therefore a commodity that has been identified as being a high-value commodity that can earn the country much-needed foreign exchange.