…If yes, then try Cashew Nuts Export!
Recently, it was reported that the Nigerian non-oil export sector recorded a 19 percent increase in 2011. The Minister of Trade and Investment, Mr. Olusegun Aganga corroborated this report when he revealed that Nigeria indeed made N428bn from non-oil exports in the last year.
And just in case you don’t know, Cashew nut is one of the non-oil export commodities driving this sector. Cashew nuts and other edible fruits contributed $44.7 million to the non-oil export revenue pool during the period in question.
Unknown to many, Nigeria is the 6th largest producer of cashew nuts in the world after India, Brazil, Vietnam, Guinea Bissau, and Tanzania. Like most African producers, most of Nigeria’s production is exported in raw form to India and Vietnam for processing.
Uses of Cashew Nuts Cashew nuts are used in making Corrosion Resistant Vanishes, Water-Proof Paint, Cashew apple, Fruit Drink & Juice, Consumed or Nut Export Destinations The major buyers of cashew nut from Nigeria are mainly India and Singapore.
A smaller percentage goes to Europe. The United States is the largest importer of cashew kernels, accounting for over 50 percent of world imports. Other importers include the Netherlands (ten percent), Germany (seven percent), Japan (five percent), and the United Kingdom (five percent).
The former Soviet Union was previously a major importer of cashew kernels, but with recent economic changes, trade to this part of the world has diminished. Other emerging markets include the Middle East, South East Asia, and Australia.
How To Get Started Exporting Cashew Nuts In 2002, one of the respected names when it comes to export business in Nigeria, Mr. Obiora Madu, wrote a comprehensive story on Cashew nuts export for SucccessDigest. That story was published in the June edition of SD.
The story contains most of the things you need to know to get started in this business and it is advisable that you read this story again before you delve fully into the business.
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