There are many businesses that could fetch you money in Nigeria; one of which is a cashew nut business, but starting this business requires you to have some information. Nigeria is one of the largest producers of raw cashew nuts in shells worldwide with a yearly export volume of at least $167 million US dollars and untapped yearly potentials of over $115.8 million US dollars. In 2017 alone, cashew nuts exporters in Nigeria exported over 220,000 tonnes of Cashew Nuts. The Cashew Market worldwide is estimated to register a CAGR of 4.6% during the forecast period (2020-2025). Among all the cashew producing nations, African countries contributed 56.5% of the global production, while Asian countries contributed 44%.
Getting Cashew Nut in Nigeria
Currently, Nigeria has about 600,000 surviving cashew trees spread across the East-West, South, and Northern Nigeria, with an average yield of about 200kg to 400kg per hectare. Precisely in Enugu and Abia states of Nigeria, there is a lot of cashew kernels there. You can be in the supply chain from the point of harvest to the point of exporting the raw kernel to countries like USA, Germany, and other European countries. So how do you start?
There are two ways of getting this business started;
- One way is by going to the source where the cashew kernel is being collected raw and sacked for sale or
- By contacting some third-party agent to get the ones that have been cleaned, processed and fried, ready for eating.
The latter is more convenient and easy to start. You must also
- Know the different types of Cashew nuts that exist
- Get your customer base ready; find sourcing
- Get trainings on how to sell rightly
How much can you start this business?
With N50,000 or less, you can successfully start this business leveraging on the the second option. In Nigeria today, there are many agents that could help you get the processed form and sell in wholesale at departmental stores or online stores like Jiji, Jumia, Konga. This is also a way of making extra money every month. At questionbump, we have an agent that will get this for you in bulk quantity.
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