<p></p><p>Falling international prices and reduced demand for Nigerian cashew are threatening government’s projected foreign exchange (forex) earnings from the produce, it was learnt yesterday.</p> <p>Speaking in Lagos, the National President, Federation of Agricultural Commodity Association of Nigeria, Dr Victor Iyama said the country was aiming to exceed its $402 million from cashew exports this year.</p><p>According to him, international prices for cashew have dipped since March following massive production from Tanzania, India Vietnam and other major producers. </p><p>Raw cashew prices in the global market fall between $ 1500 and $2,100 per ton. The rates had come down to between $1,800 and $2,000 per ton by May, and declined further to between $1,600 and $1,800 by end-June. </p><p>As a result, international buyers have objected to high prices. In the declining market, he said exporters have also been buying limited volumes. </p><p>He said cashew nut exporters are seeing a slump decline in sales as exporters try to get out of contracts following a drop in world prices.<br></p><p></p>