Nigeria is currently the 6th largest producer of cashew nut in the world. This alone speaks volumes. There is so much potential within the cashew industry. However, with the potential comes the need for a good understanding on how the industry works. This product comes from cashew fruits. Cashew is a perennial crop that grows seasonally. Unlike other fruits, its seeds are externally attached to the flesh of the cashew fruit.
Due to its high nutritional value, demand currently outweighs supply. This is therefore good news for investors. An interesting feature of this crop is its wide demand. By wide demand, we mean global demand for cashew. Currently Nigeria is unable to meet up export demands. Cashew nuts has significantly contributed to Nigeria’s revenue generation. Starting cashew business in Nigeria requires the right knowledge.
Cashew nut business has an attractive value chain where you can focus your attention on. You may want to process your cashew nuts before selling, or just selling them directly. Whatever the case, knowing the right strategy that will yield the highest financial reward is important. Processing these nuts significantly increases the market value. Your financial strength determines your scale of operation. It is therefore important that you consider your financial strength and pattern your business according to available resources. Without this, the cashew nut business will likely fall on hard times (financial) in the nearest future. However, striking a balance between cost and profit is important.
Extracts from wealth results