We are in another season of cashew nuts business. It is time for local farmers, local agents/distributors, suppliers and exporters to make money.
A business man or a trader can. only fit into 2 of d mentioned categories. Its either Ʊ are a supplier (supplying to cashew nuts export companies in Nigeria, basically Lagos who in turn export it abroad, most of these companies are owned by indians, india is one of d largest importer and exporter of cashew nuts!!! It would be interesting to know that india produce cashew nuts but they are one of d largest importers and exporters of cashew nuts in d world. This is possible because india have a free trade agreement with most asian countries thus it is better for those countries to import from india rather than import from africa or any other country.
Going into cashew business is not an easy for a new beginner cos a lot of things have to be put into consideration eg,
1. Do Ʊ want to be a supplier (supplying to export companies in lagos)
2. Do Ʊ want to export yourself (selling to overseas buyers)
3. Capital requirement (how much are Ʊ willing to invest Considering the above two options, an exporter requires more capital)

What Ʊ need to know about cashew business / terms.

1. Cashew nuts are sold per ton.
2.13 bags make a ton. 30 tons make a truck / long trailer.
3. Grading or scaling : Ʊ need to know how it is measured, weighed and packaged in bags, if not Ʊ will be cheated by local agents or distributors, they will cheat Ʊ in your presence.
4. Quality or KOR : cashew nuts in nigeria are priced and negotiated based on d quality. D quality of Nigeria cashew nuts is between 42 - 54 KOR. There is a way this test is carried out by exporters, d test is physical and Ʊ could monitored it yourself but Ʊ need to have an idea/knowledge about it or else Ʊ will be cheated by these indian exporters.
5. Price ; cashew nuts price fluctuate almost every week, so Ʊ need to know d current price at every point in time.
6. Packaging: cashew nuts could be packaged in two bags only namely jute or polythene, this also determines d final price Ʊ buy from local sellers and d price Ʊ sell to exporters. Cashew nuts in jute bags are more expensive than polythene bags. Most exporters prefer it in jute bags.
7. Haulage or trucking : Ʊ need to know d price Ʊ will transport ur cashew nuts from one destination to the other, this also affects d price in a way.
8. Exporters of cashew nuts in Nigeria: they are mainly in lagos and mostly indian companies.
9. Where to get cashew nuts in Nigeria: Ʊ need to know d source of your business.
10. If Ʊ are exporting, Ʊ need to know d export duty, fob price, cnf price and freight price.

Advise : first timers, Ʊ have to be very careful abt this business, some people are using this business to defraud unsuspecting traders. Most people organize seminars and will only tell Ʊ how to make money in cashew business but they will never tell Ʊ how risky, vulnerable it is. Most of these seminar organize have near been to any of d villages that produce cashew nuts, they've never been to d farms, meet with d local farmers, local distributors, do not know that the quality determines d price, etc.

Pls note that cashew is profitable if Ʊ have everything under your control I.e good quality, right people working for Ʊ, capital (very important cos Ʊ could buy in large qty and store for a higher price later, Ʊ will also have an edge over your competitors), entering d biz at d right time, at an early period, especially now, february, price is still low now, but it will go higher by next month, march.

I could go on and on talking about this business.

Research is very necessary, do your own little research before Ʊ venture into this biz (Ʊ either succeed or fail) it depends on how best Ʊ manage every situation Ʊ encounter during d course of d biz.
I wish Ʊ all good luck.

This is just ♏Ɣ own piece of contribution to nairaland. I have gained a lot on this wonderful site. Ǻ♍ proud to be a nairalander!!

I have just shared with Ʊ what Ʊ have normally paid for. it might not be detailed enough but I guess it would help some folks out there who have been trying to go into cashew business but don't know where to start from.
This is just the theory aspect, the main work is physical, Ʊ have to be present wherever Ʊ are buying from, don't just sit down in lagos or wherever and expect your consignment to get to Ʊ without stories, even those who have been in d game for long still monitor it physically sometimes), let your level of trust be minimal. I know a lot of people that have lost money in this business, I was a victim also when I started!! Buy as they say experience is d best teacher, I have a lot of experience ever since.

I think I have to stop here. I wish Ʊ guys best of luck.

For advise, assistance, consulting and partnership, pls contact 08023881557, 07064821943, bimbolajide@hotmail.com

A COMPREHENSIVE TEXTBOOK ON CASHEW NUTS TRADING.
PLS FOLLOW THIS LINK TO ORDER YOURS:
https://www.nairaland.com/1090563/comprehensive-textbook-cashew-nuts-trading..now

A COMPREHENSIVE TEXTBOOK ON CASHEW NUTS TRADING.
PLS FOLLOW THIS LINK TO ORDER YOURS:
https://www.nairaland.com/1090563/comprehensive-textbook-cashew-nuts-trading..now

07064821943.

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