With food scarcity and inflation in the country, investing in farming is a lucrative venture, especially, when it comes to Cashew nut processing.
No doubt, cashew nuts are in high in demand by many industries, especially, pharmaceutical sector coupled with the fact that it can also be eaten as snack or added to other food items for consumption.
Business Capital
As a beginner in this Cashew nuts processing business, one can start with a startup capital of about N150,000.
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Profit
In addition, one can reap over N1.5million from a ton of Cashew nuts.
However, a beginner in the business must be able to identify Cashew farmers whereby one can get the nuts directly from the source to avoid disappointments.
Hence in this writing it will be good to point out where an investor can get it. Cashew nuts can be gotten in abundance in Abia, Edo, Kogi, Enugu, Imo, Oyo, Niger, Kaduna, Abuja, among other states.
Moreover, the health benefits connected to Cashew nuts includes; its richness in copper, magnesium, iron, phosphorus, and selenium, as embarking in this business will add more revenue to your pulse.
In a chat with LEADERSHIP, Dr Innocent Ihenacho Ogbonna stated that, dealing with Cashew nuts processing can expose the investor into exporting sector for more patronage.
Ogbonna stressed that “Profit margins vary significantly depending on several factors, including scale of operations, location, cost control, and market access. However, the average profit margin of cashew nut processing tends to range from 10% to 20% in the contemporary market environment.
“To venture into this business, you will need to put a good number of factors in proper perspective, which must be on ground before you venture into it, like know the terrain very well before you step into it because Cashew nuts have peculiar liquid which must not be toyed with.”
Likewise, Mr Wale Oluyemi said, Cashew nut processing involves getting to know the Cashew farmers for easy supply.
Oluyemi, a civil servant based in Ondo State but is into farming too to complement his official job, said: “Cashew nuts have to be farmed, harvested, separated from the false fruit, roasted, cooled, cracked open, peeled, sundried and sorted – and only then can you sell them as raw nuts. The amount of value added is incommensurate to the amount of labour that goes into it
“It can lead to job creation as the processing of raw cashew nuts goes through various stages like roasting, peeling off the shelves, among others who h will require additional workforce to deliver. One also need good environment for drying of the nuts after the peeling.