Cashew nut business is one of the most lucrative businesses with high profit potentials. According to recent stat, Nigeria is ranked as the 6th largest producer of cashew nut in the world. This makes Cashew nut industry a very large one in Nigeria.
Cashew nut business, like other farming business eg. cocoa farming and plantain farming is very profitable and can even be exported out of the country farmed on a commercial standard. Cashew farming is seasonal because of its perennial nature. Hence you can farm in large quantity and store in a warehouse and bringing out for sale during scarcity. This business has made a lot of farmers in Nigeria millionaires.
This article, is going to guide you on how you can tap into this business and become a successful cashew farmer here in Nigeria. Cashew nut business is among the untapped businesses. Only few entrepreneurs are in this business, making all the money.
A COMPLETE GUIDE TO STARTING A CASHEW NUT BUSINESS
This involves the cultivation of cashew nut on commercial basis. The business is no doubt a profitable agribusiness. Cashew farming requires time, money and expertise if you must grasp the process to a positive end. If not, it may amount to you counting your losses at the end.
For the farming procedure, you need a nursery where you can plant your cashew nut. When they have grown a little, you now transplant to a permanent farm site where they grow into tree and produce fruits.
It takes several years before a cashew tree can start producing fruits therefore, it is recommended you engage in another lucrative business out there, or you skip this aspect of farming and buy already made cashew nuts from other farmers and sell to gain profit.
This is to say that you have two options in this business; To sell processed or sell it unprocessed. But the former is a better option as it is more lucrative hence it is a better recommendation.
JOIN CASHEW ASSOCIATION
As you plan to go big time into this business, it is advisable you join the cashew association. In Nigeria the body is; National Cashew Association of Nigeria (NCAN). It is an umbrella charged with the responsibility of regulating the Nigerian cashew industry for the benefit of all stakeholders be it a cashew farmer, traders, processing exporters, service providers and even the final consumers. You can visit there website @ www.ncan.org.ng to know more about the body and their regulations in the cashew industry.
Description: Cashew(Anacardium Occidentale L.) is a tree crop of considerable economic importance to tropical countries; especially Nigeria. Apart from being a source of useful products and byproducts for food, industrial and medicinal applications, cashew gives also a useful shade, while ornamental and alley trees are suitable for the control of soil erosion, particularly for the protection of watersheds and dams.
Harvest: Cashew nut setting begins in the middle of dry season, while harvesting takes place mainly in February or March. The entire harvest period occupies about 16 weeks. Quality nuts are grown in the Eastern and Western parts of the country, in these places, nuts are allowed to drop to the ground before they are collected. This practice ensures that only ripe nuts are collected. Nuts normally fall to the ground with their apples attached; separation of the two are normally done with a twisting action during collection. After the separate, remnants of the apple flash clinging to the nuts are removed with a sharp knife. After picking, the nuts are
allowed to dried in the sun for 2 to 3 days, this is done basically to reduce their moisture content to about 13 %.Properly dried nuts are packed in jute bags and can be kept for 6 to 10 months, if stored in suitable condition.
Locations: Major cashew growing areas in Nigeria by order of importance includes: Enugu, Abia, Imo, Anambra, Ebonyi and Cross River States in the eastern part of the country; Oyo, Osun, Ondo, Ekiti and Ogun States in the Western part, as well as, Kogi, Kwara, Nassarawa, Benue, Niger, Taraba, and FCT in the Middle Belt and also Kebbi and Sokoto States in the North West part of the country. The majority of export quality nuts are gotten from the Western and Eastern parts of the country.
Specification: According to SGS (quality inspectors), the standard for raw cashew nuts, unshelled, is specified as follows:
i. Nut count 180-200 per kg
ii. Moisture content 8-10% max
iii. Defective nuts 15% max
iv. Float Rate 18% max
v. Admixture 0.25% max
vi. Foreign matter 0.25% max
vii. KoR, or shelling out-turn 48-50 Ibs/bag
CASHEW NUT PRICE
The price of a ton of cashew nut in 2011 was N125,000. In 2018 the price has increased so much depending on the area;
Kogi : N500-N520k per tonne.
Kwara and Ogbomosho: N580 per tonne, dried N620k
Enugu and Owerri: N440-460k
Dried is N480k
I got this info from a reliable farmer in Ogbomosho.
CASHEW BUSINESS PLAN
Before you kick start you cashew nut business, it is important that you create a great business plan which will stand as a blueprint of your business; a detail of your target market, capital base, sales projection, analytical representation etc.
Start a business without a business plan could prove to be a minus for your business and overall growth projection. But with a business plan, the overall overview of the business becomes known. Hence the importance of a business plan cannot be left out.
CASHEW NUT HEALTH BENEFITS
Cashew nuts are one of the lowest-fiber nuts with a buttery, sweet and salty taste with an excellent source of vitamins and minerals. Below are some of the health benefits of cashew nuts.
1. EYE PROTECTION
Cashew contain a high level of lutein and zeaxanthin which protect the eyes from light damage
2. BLOOD CELL FORMATION
Cashew is rich with copper and iron which combine operationally to help the body form blood cells.
2. The consumption of cashew has been linked to prevention of Without much doubt, cashew is super packed with vitamins and minerals beneficial for health which has indirectly made cashew nut business is a lucrative business to start.
3. WEIGHT LOSS
According to a recent research carried out by Harvard, consumption of two cashew nuts a day help to fight against cardiovascular disease, cancer, and diabetes It replaces animal fats and protein with the mono-and polyunsaturated fats found in cashews.
USES OF CASHEW NUTS
Apart from the health benefits of cashew nuts, cashew nut can be used for other reasons
Roasted cashew snack
Cashew mocha brews for coffee lovers and it doesn’t stop there, there are numerous things which cashew is used for, that makes it a lucrative business, the demand is way high and the business is a goldmine and unexploited. You could be the next millionaire if you venture into this business.
Cashew business is highly profitable and many people go into this business as exporters, while some run it as suppliers, cashew nut producers or even as retailers. If you’re looking for a business that you can start and make money, then this business is for you. For all the aspiring entrepreneurs, this business is a good recommendation for you. Get started and experience financial freedom.
If you have any question, use the comment box and get a feedback as soon as possible.