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  • Nigeria: Investing in cashew nuts for local and export markets

    Dec 16th, 2013

    <p>Cashew has its origin in Brazil, South America. It is now grown in tropical countries of Africa, introduced to Africa by the Portuguese and has been growing in Africa for the past 400 years.recent policy of Nigerian government has made cashew production gain a very tremendous popularity. This is because of the boost given to the non-oil exports. A lot of abandoned cashew plantations located in northern parts of Oyo State (Iseyin, Saki, Oyo and Ogbomoso) have been re-activated by their owners. Suddenly, cashew production is being seen as one of the major sources of foreign exchange earnings.</p> <p>In view of the export earning crop, it has been identified that establishment of cashew plantation is one of the investment opportunities for Nigerian investors. Not only because of its foreign exchange potentials but also as life investment for owners. This project is strongly recommended for consideration by investors.Requirements, technical information: A medium sized factory is acquired where the processing plant is installed. Cashew nuts processing involves procurement of dried cashew from produce buyers. Cashew is heavily grown in Oyo North, Ondo, Kwara, Kogi, Benue and some northern states. The production processes are parboiling, drying, cracking, sorting and packaging. It has a ready local and export markets, and has a ready market in America, Europe and Asia.Revenue projection Capacity of the plant is about 250 metric tons per annum and average selling price per ton of cashew is about N120, 000, while turnover of N30 million is achievable. 30 percent profit margin is being calculated. This gives us net income of N9 million annually. Serious minded investors can be assisted in the establishment of this project.</p> <p>&nbsp;</p>


    Source: Peoples Daily
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