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How to successfully invest in cashew nuts business
How to successfully invest in cashew nuts business

How to successfully invest in cashew nuts business

After eating the flesh of the cashew fruit, most people throw away the nut and in doing so, do not even know that they are throwing away a big money making venture. The business of buying and selling cashewnuts a big one in Nigeria and even though it does not promise to turn you rich overnight, can have a long lasting effect on the betterment of your finance options should you wish to embrace it. For those who do not know, these cashew nuts are in a very high demand especially due to it being a seasonal fruit and being able to exploit this market would spell a lot of fresh mints in your pocket. Cashew nuts are also a great deal of foreign exchange especially with Asian counters having a huge demand for the commodity. There are many ways to invest in the agribusiness of cashewnuts’ buying and selling, one of which is being involved in the packaging and processing process yourself while you could just be a member of the chain of distribution. We say that, if you have the chance, why not get involved in both and make maximum yields obtainable? In case you were still wondering why it is a great business idea in the first place, let us ask if the idea of having a business that yields a profit rate of 15-40% interests you. If that sounds good enough, you should also know that with the right connections, you not need to start looking for a market to dispose of your cashew nuts because the market would come to look for you, literally. Being a seasonal commodity as earlier stated, it becomes very rare at certain times of the year and buyers usually want to have the highest stock available, ensuring that they always make a rush for you whenever you have the product. The chance of getting foreign exchange also contributes to the reasons why this business is for you. In Nigeria or example, most of the people that come to purchase our cashew nuts are the likes of the Indians, Chinese and Vietnamese. To ensure that they get their supply from you, most of these foreign companies could also opt to have an agreement with you which guarantees you fast and easy money as fast as you have your wares on ground. Think about the competitive price that each buyer would also offer to you in a bid to outdo the others. Maximum profit is realised in the case of a cash and carry mode of operation. In cash and carry, your buyers would come directly to you, check out the nuts, pay and transport it by themselves. These do not sound too good to be true as they are all well and true. I’m sure that the above would have surely caught your full attention now. Afterall has been said and done, how can you invest in a cashew nut business? Basically, there are two different ways through which you can go about this which are

1. Becoming a Supplier. As a supplier, you get the chance to play middleman between the source of the cashew nuts and the export companies (mostly based in Lagos). You would buy the cashew nuts at point of sale prices from the farmers and then proceed to sell them at your own price to the exporting companies. This is a real moneybag in the sense that you can set virtually any amount on your supplied nuts as long as they are within the prevalent acceptable market price range and make a decent income from it. According to sources in the business, a tonne of cashew nuts can be bought for as high as #55000 from the farmers and on getting to the exporters, sold at the standard price of #70,000, a decent interest of #15000 per tonne supplied. Now imagine you supplying as many as 1000 tonnes or more and make the calculations. The price above just shows the standard rage as market factors (such as high demand) can give you the power to sell for as much as #85000. That is a massive interest of #30,000 on every tonne of the product sold. Multiply it by as many tonnes as you wish to supply and you’ll be left with a jaw opening amount.

2. Exporting the Product If you would like to directly relate to the main companies that require the nuts overseas themselves, you could be looking to become an exporter of the product yourself instead of just a supplier. As an exporter, you get to enter deals with various companies that seek the nuts. Due to their significant numbers, you are at a benefit because that means you have a variety of good offers to choose from. Also, the currencies of these countries are usually stronger than the Nigerian naira which means that after payment, you would have a higher value currency at hand which translates to even more money. The amount you can make on every tone exported is incredible, to say the least, and this mouth-watering offer is just yours for the claiming. Before going into the business at all at any level of investment, it would not hurt to know a little about the whole cashew nut business to further smoothen your job. Get connections among farms all over the country that sell these nuts and enter an agreement with them. Having such farms supply to you exclusively is a huge way to boost your earning as the more your supply, the greater the income you stand to gain. Also, note how they are being sold (per tonne), what qualifies for a tonne (13 bags), the quantity that makes up a truck (30 tonnes) and such other important things. Also, if you would be supplying, get in touch with exporting agencies and agree your rates with them. Ensure your nuts are of standard values else no one would take you serious and operate with the highest efficiency available. This way, the only limit to your earnings is the sky.