Raw Cashew Nut Price Per Ton: Ghana, Nigeria, FOB (2026)

The price per ton of raw cashew nuts (RCN) depends on three things: origin, quality (KOR + nut count + moisture) and current market dynamics. In 2026, the Ghana FOB price stands at around $1,400/MT for standard 48 KOR / 180 nuts per kg / 10% maximum moisture specs. In Nigeria, prices range between $515 and $1,030/MT depending on source and quality. The trend remains upward in Q1-Q2 2026 due to tightening supply. Let’s break down what’s behind these numbers for professional buyers.

The Ghana FOB benchmark for 2026: $1,400/MT

For the 2025-2026 campaign, Ghanaian authorities (TCDA, Tree Crops Development Authority) set a minimum FOB price at $1,400 per metric tonne, based on the following standard specs:

• KOR (Kernel Outturn Ratio): 48 lbs / 80 kg
• Nut count: 180 nuts per kg
• Moisture: 10% maximum

On the farmgate price (price paid to producer) side, the 2025/2026 minimum comes out at GHS 12 per kg, approximately $1.04/kg or $1,040/MT. The difference between farmgate ($1,040/MT) and FOB ($1,400/MT) covers collection, drying, sorting, bagging, fumigation, transport to port, inspection, export duties and trader margin.

Nigeria 2026 price: wide $515-1,030/MT range

The Nigerian market is less formalized than Ghana’s — no official minimum price for RCN. Market sources situate the cost of a ton between 400,000 and 800,000 nairas, approximately $515 to $1,030/MT at the 2026 exchange rate. This wide range is explained by:

• The volatility of the naira which complicates foreign currency comparisons;
• Quality differences between lots (variable KOR, sometimes high moisture);
• Logistical disorganization (fragmented collection, multiple intermediaries).

For an international buyer, Nigeria may offer lower prices than Ghana, but with higher quality and logistics risk. A regional trader like BEST AGRI BUSINESS acts as the interface — lot selection, quality control, farmgate negotiation, export organization — to deliver consistent quality at market price.

Understanding the three variables that drive price

The RCN price per ton is never « a single price » — it’s a calculation across three variables:

1. KOR (Kernel Outturn Ratio)

The queen indicator. A KOR of 48 lbs/80 kg means 80 kg of RCN yields 48 lbs (22 kg) of bleached kernel after shelling. The higher the KOR, the better the industrial yield for the processor, hence the higher the price per MT of RCN.

KOR	Indicative price vs $1,400/MT base
46 lbs	-5 to -8%
48 lbs	base
50 lbs	+5 to +8%
52 lbs+	+10-15% (rare, premium)

2. Nut count

The number of nuts per kg is inversely correlated with size. A count of 180 nuts/kg is standard — this is the « large size » preferred by processors as it maximizes yield per shelling operation.

3. Moisture

Beyond 10% moisture, RCN risks mould development in transit (which lasts 15-35 days). Any lot delivered at > 10% moisture is downgraded or rejected. Best practices aim for 8-9% post-drying.

2026 trend: upward pressure in H1

Several factors support prices in Q1-Q2 2026:

1. Global supply tightness — the 2025 campaign saw a 60% CNF price surge to $1,600-1,700/MT (farmgate $800-1,000/MT), consequence of shortages, US tariffs and some African export bans.
2. Sustained Vietnamese demand — Vietnamese processors continue large-scale buying to feed their industrial capacity.
3. Ghana farmgate adjustment downward — controversial early in the season but validated at GHS 12/kg, down 20% versus prior year, which could support more attractive FOB prices for international buyers.

For buyers, the right timing is March-April, at the peak of harvest season, when available volumes are at maximum and sellers are motivated to negotiate to move stock.

Total landed cost: beyond the FOB price

A $1,400/MT FOB price is not your final purchase cost. For European or Asian buyers, the landed cost adds:

• Sea freight: $80-150/MT to Europe, $120-220/MT to Asia depending on period
• Cargo insurance: ~0.3-0.5% of CIF value
• Import duties: variable by country (EU = 0% for RCN under GSP status, others = variable)
• Arrival port fees: $20-40/MT
• Inland transport: depending on distance

A $1,400/MT FOB Lomé typically becomes a CIF Hamburg around $1,530-1,580/MT, and a landed Antwerp factory around $1,600/MT.

How to get a real-time West African FOB price

Our process:

1. You specify: quantity (MT or FCL), target specs (KOR, nut count, moisture), preferred origin (Ghana / Benin / Nigeria / « best of »), Incoterm, destination port.
2. We query our collection partners in the relevant countries.
3. Offer within 24-48 hours with day-of FOB pricing, COA-guaranteed specs, sample photos possible.

Conclusion

Raw cashew nut prices per ton in 2026 are structured around a Ghana FOB benchmark of $1,400/MT for standard specs (48 KOR, 180 nuts/kg, 10% moisture). Nigeria offers a wider range ($515-1,030/MT) depending on quality. Beyond the headline figure, the actually-paid price depends on the three quality variables (KOR, count, moisture), origin, timing in season and Incoterm choice. To buy at fair price without exposing yourself to quality or logistics risk, working with a West African-based trader like BEST AGRI BUSINESS — based in Lomé — combines market pricing with execution reliability.

---

Internal links: – Raw cashew nut exporters and suppliers in West Africa (article A-EN) – Bulk cashew nuts: wholesale buying guide (article B-EN) – Product page: Raw cashew nuts – Market page: Ghana – Market page: Nigeria