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 culd only fit into 2 of d mentioned categories. Its either yiu 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 importers and exporters of cashew nuts!!! It would be interesting to know that india produce cashew nuts but they are one of d largest importes 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 because of d import duty tariff.
Going into cashew business is not an easy task for a new beginner cos a lot of things have to be put into consideration eg,
1. Do you want to be a supplier (supplying to export companies in lagos)
2. Do you want to export yourself (selling to overseas buyers)
3. Capital requirement (how much are you willing to invest Considering the above two options, an exporter requires more capital)

What you 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 : u need to know how it is measured, weighed and packaged in bags, if not u will be cheated by local agents or distributors, they will cheat u 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 u could monitor it yourself but u need to have an idea/knowledge about it or else u will be cheated by these indian exporters.
5. Price ; cashew nuts price fluctuate almost every week, so u 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 u 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 : u need to know d price u 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: u need to know d source of your business.
10. If u are exporting, u need to know d export duty, fob price, cnf price and freight price.

Advise : first timers, you 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 you how to make money in cashew business but they will never tell you how risky and vulnerable it is. Most of these seminar organizers have never been to any of the villages that produce cashew nuts, they've never been to the farms, meet with the local farmers, local distributors, do not know that the quality determines the price, etc.

Pls note that cashew business is profitable if you have everything under your control I.e good quality, right people working for you, capital (very important cos you could buy in large qty and store for a higher price later, you will also have an edge over your competitors), entering the marjet at d right time, at an early period, especially in february, price is usually low, but it will go higher as the season proceeds.

I could go on and on talking about this business.

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

This is just my own piece of contribution to nairaland. I have gained a lot on this wonderful site. am proud to be a nairalander!!

I have just shared with you what you would 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, you have to be present wherever u are buying from, don't just sit down in lagos or wherever and expect your consignment to get to you without stories, even those who have been in the 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!! But as they say experience is the best teacher, I have gained a lot of experience ever since.

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

@lomzy1

How are you doing today thank for the advice it really help a lot I will like to go into this business but i do not know where to find this product in nigeria

could you tell me where I can get this product in large capacity and good price?

as you say experience is the best teacher let me be your student.

looking forward to hear from you

deliceshop

you could reach me on 08023881557 or 07064821943.

Lomzy1,

I am also interested in this business. How may you assist?

lomzy1: 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 culd only fit into 2 of d mentioned categories. Its either u 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 importers and exporters of cashew nuts!!! It would be interesting to know that india do not produce cashew nuts but they are one of d largest 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 because of d import duty tariff.
Going into cashew business is not an easy task for a new beginner cos a lot of things have to be put into consideration eg,
1. Do u want to be a supplier (supplying to export companies in lagos)
2. Do u want to export yourself (selling to overseas buyers)
3. Capital requirement (how much are u willing to invest Considering the above two options, an exporter requires more capital)

What u 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 : u need to know how it is measured, weighed and packaged in bags, if not u will be cheated by local agents or distributors, they will cheat u 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 u could monitored it yourself but u need to have an idea/knowledge about it or else u will be cheated by these indian exporters.
5. Price ; cashew nuts price fluctuate almost every week, so u 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 u 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 : u need to know d price u 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: u need to know d source of your business.
10. If u are exporting, u need to know d export duty, fob price, cnf price and freight price.

Advise : first timers, u 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 u how to make money in cashew business but they will never tell u how risky, vulnerable it is. Most of these seminar organize have never 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 u have everything under your control I.e good quality, right people working for u, capital (very important cos u could buy in large qty and store for a higher price later, u 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 u venture into this biz (u either succeed or fail) it depends on how best u manage every situation u encounter during d course of d biz.
I wish u all good luck.

This is just my own piece of contribution to nairaland. I have gained a lot on this wonderful site. am proud to be a nairalander!!

I have just shared with u what u would 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, u have to be present wherever u are buying from, don't just sit down in lagos or wherever and expect your consignment to get to u 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!! But 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 u guys best of luck.

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

Nice one

I recommend my new book. A COMPREHINVE HANDBOOK ON CASHEW NUTS TRADING to u guys. It will be helpful to anyone who wants to go into cashew biz. See link below:
https://www.nairaland.com/1090563/comprehensive-handbook-cashew-nuts-trading..n1000

..

I strongly advise those who ve been calling me for information on cashew nuts to buy the book " A comprehensive textbook on cashew nuts trading" written by me. It will be very helpful for you all.

A comprehensive textbook on cashew nuts trading is still selling. Book urs today.
Call 07064821943

Cashew season is around d corner. Its high time investors started to make their moves. Don't wait tilld season begins.

Order for a copy of "A COMPREHENSIVE TEXTBOOK ON CASHEW NUTS TRADING" today.
Call 07064821943

Ask questions on cashew nuts. Call 07064821943

recommend my new book. A COMPREHINVE HANDBOOK ON CASHEW NUTS TRADING to u guys. It will be helpful to anyone who wants to go into cashew biz. See link below:
https://www.nairaland.com/1090563/comprehensive-handbook-cashew-nuts-trading..n1000

I recommend my new book. A COMPREHINVE HANDBOOK ON CASHEW NUTS TRADING to u guys. It will be helpful to anyone who wants to go into cashew biz. See link below:
https://www.nairaland.com/1090563/comprehensive-handbook-cashew-nuts-trading..n1000

God bless u for this beautiful piece.

@blinky . Amen

God is good.

Commercial activities have gradually started in some area. Intending investors may enter d market now. D price of d cashew nuts will be low compared to when full comercial activity comences.

Commercial activities have gradually started in some area. Intending investors may enter d market now. D price of d cashew nuts will be low compared to when full comercial activity comences.

Buy cashew nuts in large quantity. We export and sell locally.
Contact 08023881557, 07064821943, cashewguru1@gmail.com, for consultancy, enquiries and further details.

Commercial activities has already begun in some states. Intending investors may commence procurement of d cashew nuts now. Price is usually low now but d nuts are limited...

Hello guys.. I felt I should let people know d latest development on cashew nuts business as it is now and also give more insights to d business.

The nuts are coming out already. Commercial activities will commence towards d end of february or early march from my observations.
The cashew nuts are germinating gradually.. Some parts of d country are already harvesting in bits but not in commercial quantity. Just for local consumption of d cashew apple. I ploughed d apple recently in one of my visits to a local farm. Its funny how peeople don't care abt cashew apples anymore, some even throw it away and keep d nuts! Its all abt d benjamins!!
I wish everybody success in d trade dis season.

Keep to my little advise in dis free report.

Start planing now and don't be tempted by ridiculous price offer by some sellers.. Some of them will offer you a very low price dats ridiculous.. You may end up getting nothing. Also try to check all d nuts u wanna buy. If they r already in bags.. Pour them out, grade them by weighing it again, then re bag them.. To be sure they are not mixed with foreign materials/objects like stones, sand, metals to make up d weight etc.
Buy ur own scale. Its very important.. If not, u might be buying a 70kg bag for a 80kg bag. Those sellers know how to achieve that even while you are present.. They know their scale better.

Let ur level of trust be minimal. Sometimes u may need to trust some people to some extent.. But u should trust ur instinct more than anyone else. Do not giv money to strangers unless u are with d person 24/7.
I have gotten to a stage I can give some ppl money to go to d farms to source d nuts for me and buy @ farm rates.. But these are people av been dealing with for years.. Even @ dat I still take some precautionary methods when giving them money. I make them sign an agreement.
Even ppl who av been in business for donkey years cld stil loose money.
Try as much as possible to monitor each process of d transaction.

You may also go for "SEE and BUY". Its d most convinent way of getting d nuts without going through much stress. But u buy @ a higher rate. Also becareful of the see and buy guys, there are bad eggs among them also.

Start visiting the places u want to source from btw now and february. Get familiar with the place, try and associate urself with the locals and make enquiries abt ur mission to the town. U may be lucky to meet d right person. Nothing is impossible. Pls note that there are also good people around who could be trustworthy. U can never know, some arrangements cld be divine.. So be prayerful and ask for God direction always.

U can also start purchasing jute bags now.. U can still get at cheap rates now compared to when d season commences. D demand will be high and price will increase.
Start connecting with foreign buyers now. Becareful with d terms of agreement u enter with foreign buyers.. It is very important. Most of these importers are "ruthless" and fraudlent, they always look for loopholes in agreement to get at u. U may end up loosing everything.

I'l keep u guys posted on this thread. For more enquiries: 08023881557
07064821943.
bb pin: 30D4CD77
To order for the book, pls visit this link: https://www.nairaland.com/1090576/comprehensive-textbook-cashew-nuts-trading..2000

PART 3 (SAMPLES AND QUOTATIONS)

CHAPTER 1

SAMPLE OF QUOTATION FOR CASHEW NUTS (FROM KWARA STATE DELIVERED TO LAGOS)

QUANTITY SUPPLIED 30 TONS

1. CASHEW NUTS @N80, 000/TON: 80,000 X 30 TONS.……………….………….. 2,400.000
2. BAGS (JUTE) @ N350/BAG X 13= N4500/TON: 4500 X 30 …………………. 136,500
3. LOADING @ N50/BAG X 13 = N650/TON: 650 X 30 ……………………………… 19,500
4. LABOUR: (sewing, grading etc) ……………………………………………………………. 10,000
5. PAPERS (from the point of procurement include; association paper… 30,000
Way bill, gate pass, produce fee etc.
6. PRODUCE FEE @ OGERE, OGUN STATE & BERGER, LAGOS STATE …………… 20,000
7. TRANSPORT (from kwara to Lagos) ………………………………………………………… 150,000
TOTAL …………….. 2,763,000

TOTAL COST OF A TRAILER LOAD (30 TONS) OF CASHEW NUTS IS TWO MILILION, SEVEN HUNDRED AND SIXTY THREE THOUSAND NAIRA.
Thus the final price per ton will be: 2,763,000 divided by 30 tons = N92, 100 (NINETY TWO THOUSAND AND ONE HUNDRED NAIRA).
Note that the actual price of cashew nuts per ton is now N92,100. It is now left for you to fix a suitable price for your consignment bearing in mind the actual cost of cashew nuts which is now N92,100 (ninety two thousand, one hundred naira). The profit margin when selling locally is not really attractive due to the competition, but the turnover is quite good. No matter the quantity you want to supply, buyers are always willing to purchase and pay you as soon as possible. There is always a standby buyer wishing to buy as many quantity you can supply at every point in time. There are local buyers/exporters that can buy up to 30 trailers in a day as long as you have goods to supply. They don’t owe suppliers money.
It is advisable to fix your profit margin between 8–15% when selling locally. (20% may be possible though but it is rare,most likely if you are supplying an individual who has an export contract or a private firm but definitely not those indian buying companies in lagos).
let's assume your profit marin is 10%, your sales price will be N101.310…. (9,210 + 92,100 =N101.310). Hence profit margin on a ton will be selling price subtracted by actual cost price: 101,310 – 92,100 = N9,210 Thus profit on a trailer load of cashew nuts (3o tons) will be 9210 x 30 = N276,300
Thus on a two million seven hundred and sixty three thousand investment, you will make two
hundred and seventy six thousand returns which is approximately 10% of your initial investment.
Now let’s assume you are supplying only twice a week, you will be making 276,300 x 2 = N552,600 (five hundred and fifty two thousand, six hundred naira) every week (supplying twice a week may not be possible for every seller,it depends on the supply capabilty of your source and also the availability of capital/fund).
Please note that the above quotation reflects the real cost of a transaction prepared by the author for a client at a particular time. The quotation was based on local transaction for a client from kwara state to buyer’s warehouse in Lagos.
The price of cashew nuts fluctuates almost on weekly basis, so the price of N80, 000 quoted may not be applicable or obtainable always. Price of cashew nuts fluctuated between N68, 000 – N90,000 this 2012 season. Also note that whenever the price of nuts rises, the selling price also rises accordingly.
also note that cost of transportation, produce fee @ ogere and berger can be negotiated. you may get a better bargain from transporters.. N80,000 naira - N100,000 cost could be achieved from ilorin to lagos.
some truck drivers also know how to avoid the fee colectors @ ogere and berger therefore you may end up not paying but you will have to settle the drivers. you also need an escort (not an officer) to follow the truck if you cant travel with the truck. they are usually paid between N5,000 - N10,000.

To order the book and read other free reports pls follow these links (see the table of content also):

https://www.nairaland.com/1090563/comprehensive-textbook-cashew-nuts-trading..now

https://www.nairaland.com/883892/free-report-cashew-nuts-biz

08023881557
07064821943.
bb pin: 30D4CD77

Cashew nuts trading for 2013 season will be flagged up in kogi state on the 14th of februaury, 2013. This is d official date for commercial activities to begin.

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 culd only fit into 2 of d mentioned categories. Its either u 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 importers and exporters of cashew nuts!!! It would be interesting to know that india produce cashew nuts but they are one of d largest importers 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 because of d import duty tariff.
Going into cashew business is not an easy task for a new beginner cos a lot of things have to be put into consideration eg,
1. Do u want to be a supplier (supplying to export companies in lagos)
2. Do u want to export yourself (selling to overseas buyers)
3. Capital requirement (how much are u willing to invest Considering the above two options, an exporter requires more capital)

What u 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 : u need to know how it is measured, weighed and packaged in bags, if not u will be cheated by local agents or distributors, they will cheat u 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 u could monitored it yourself but u need to have an idea/knowledge about it or else u will be cheated by these indian exporters.
5. Price ; cashew nuts price fluctuate almost every week, so u 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 u 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 : u need to know d price u 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: u need to know d source of your business.
10. If u are exporting, u need to know d export duty, fob price, cnf price and freight price.

Advise : first timers, u 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 u how to make money in cashew business but they will never tell u how risky, vulnerable it is. Most of these seminar organize have never 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 u have everything under your control I.e good quality, right people working for u, capital (very important cos u could buy in large qty and store for a higher price later, u 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 u venture into this biz (u either succeed or fail) it depends on how best u manage every situation u encounter during d course of d biz.
I wish u all good luck.

This is just my own piece of contribution to nairaland. I have gained a lot on this wonderful site. am proud to be a nairalander!!

I have just shared with u what u would 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, u have to be present wherever u are buying from, don't just sit down in lagos or wherever and expect your consignment to get to u 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!! But 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 u guys best of luck.

For advise, assistance, consultancy and partnership, you may contact 08023881557, 07064821943, bimbolajide@hotmail.com

Hello guys.. I felt I should let people know d latest development on cashew nuts business as it is now and also give more insights to d business.

The nuts are coming out already. Commercial activities will commence towards d end of february or early march from my observations.
The cashew nuts are germinating gradually.. Some parts of d country are already harvesting in bits but not in commercial quantity. Just for local consumption of d cashew apple. I ploughed d apple recently in one of my visits to a local farm. Its funny how peeople don't care abt cashew apples anymore, some even throw it away and keep d nuts! Its all abt d benjamins!!
I wish everybody success in d trade dis season.

Keep to my little advise in d "FREE REPORT ON CASHEW NUTS TRADING.. DON'T START D BUSINESS WITHOUT READING THIS" https://www.nairaland.com/883892/free-report-cashew-nuts-biz I posted in d business section (check d advert and business to business sections), if u cannot purchase my e book " A COMPREHENSIVE TEXTBOOK ON CASHEW NUTS TRADING".

Start planing now and don't be tempted by ridiculous price offer by some sellers.. Some of them will offer you a very low price dats ridiculous.. You may end up getting nothing. Also try to check all d nuts u wanna buy. If they r already in bags.. Pour them out, grade them by weighing it again, then re bag them.. To be sure they are not mixed with foreign materials/objects like stones, sand, metals to make up d weight etc.
Buy ur own scale. Its very important.. If not, u might be buying a 70kg bag for a 80kg bag. Those sellers know how to achieve that even while you are present.. They know their scale better.

Let ur level of trust be minimal. Sometimes u may need to trust some people to some extent.. But u should trust ur instinct more than anyone else. Do not giv money to strangers unless u are with d person 24/7.
I have gotten to a stage I can give some ppl money to go to d farms to source d nuts for me and buy @ farm rates.. But these are people av been dealing with for years.. Even @ dat I still take some precautionary methods when giving them money. I make them sign an agreement.
Even ppl who av been in business for donkey years cld stil loose money.
Try as much as possible to monitor each process of d transaction.

You may also go for "SEE and BUY". Its d most convinent way of getting d nuts without going through much stress. But u buy @ a higher rate. Also becareful of the see and buy guys, there are bad eggs among them also.

Start visiting the places u want to source from btw now and february. Get familiar with the place, try and associate urself with the locals and make enquiries abt ur mission to the town. U may be lucky to meet d right person. Nothing is impossible. Pls note that there are also good people around who could be trustworthy. U can never know, some arrangements cld be divine.. So be prayerful and ask for God direction always.

U can also start purchasing jute bags now.. U can still get at cheap rates now compared to when d season commences. D demand will be high and price will increase.
Start connecting with foreign buyers now. Becareful with d terms of agreement u enter with foreign buyers.. It is very important. Most of these importers are "ruthless" and fraudlent, they always look for loopholes in agreement to get at u. U may end up loosing everything.

I'l keep u guys posted on this thread. For more enquiries: 08023881557
07064821943.
bb pin: 30D4CD77
To order for the book, pls visit this link: https://www.nairaland.com/1090576/comprehensive-textbook-cashew-nuts-trading..2000

Hello guys.. I felt I should let people know d latest development on cashew nuts business as it is now and also give more insights to d business.

The nuts are coming out already. Commercial activities will commence towards d end of february or early march from my observations.
The cashew nuts are germinating gradually.. Some parts of d country are already harvesting in bits but not in commercial quantity. Just for local consumption of d cashew apple. I ploughed d apple recently in one of my visits to a local farm. Its funny how peeople don't care abt cashew apples anymore, some even throw it away and keep d nuts! Its all abt d benjamins!!
I wish everybody success in d trade dis season.

Keep to my little advise in d "FREE REPORT ON CASHEW NUTS TRADING.. DON'T START D BUSINESS WITHOUT READING THIS" https://www.nairaland.com/883892/free-report-cashew-nuts-biz I posted in d business section (check d advert and business to business sections), if u cannot purchase my e book " A COMPREHENSIVE TEXTBOOK ON CASHEW NUTS TRADING".

Start planing now and don't be tempted by ridiculous price offer by some sellers.. Some of them will offer you a very low price dats ridiculous.. You may end up getting nothing. Also try to check all d nuts u wanna buy. If they r already in bags.. Pour them out, grade them by weighing it again, then re bag them.. To be sure they are not mixed with foreign materials/objects like stones, sand, metals to make up d weight etc.
Buy ur own scale. Its very important.. If not, u might be buying a 70kg bag for a 80kg bag. Those sellers know how to achieve that even while you are present.. They know their scale better.

Let ur level of trust be minimal. Sometimes u may need to trust some people to some extent.. But u should trust ur instinct more than anyone else. Do not giv money to strangers unless u are with d person 24/7.
I have gotten to a stage I can give some ppl money to go to d farms to source d nuts for me and buy @ farm rates.. But these are people av been dealing with for years.. Even @ dat I still take some precautionary methods when giving them money. I make them sign an agreement.
Even ppl who av been in business for donkey years cld stil loose money.
Try as much as possible to monitor each process of d transaction.

You may also go for "SEE and BUY". Its d most convinent way of getting d nuts without going through much stress. But u buy @ a higher rate. Also becareful of the see and buy guys, there are bad eggs among them also.

Start visiting the places u want to source from btw now and february. Get familiar with the place, try and associate urself with the locals and make enquiries abt ur mission to the town. U may be lucky to meet d right person. Nothing is impossible. Pls note that there are also good people around who could be trustworthy. U can never know, some arrangements cld be divine.. So be prayerful and ask for God direction always.

U can also start purchasing jute bags now.. U can still get at cheap rates now compared to when d season commences. D demand will be high and price will increase.
Start connecting with foreign buyers now. Becareful with d terms of agreement u enter with foreign buyers.. It is very important. Most of these importers are "ruthless" and fraudlent, they always look for loopholes in agreement to get at u. U may end up loosing everything.

I'l keep u guys posted on this thread. For more enquiries:
08023881557
07064821943.
bb pin: 30D4CD77
To order for the book, pls visit this link: https://www.nairaland.com/1090576/comprehensive-textbook-cashew-nuts-trading..2000

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 culd only fit into 2 of d mentioned categories. Its either u 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 importers and exporters of cashew nuts!!! It would be interesting to know that india produce cashew nuts but they are one of d largest importes 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 because of d import duty tariff.
Going into cashew business is not an easy task for a new beginner cos a lot of things have to be put into consideration eg,
1. Do u want to be a supplier (supplying to export companies in lagos)
2. Do u want to export yourself (selling to overseas buyers)
3. Capital requirement (how much are u willing to invest Considering the above two options, an exporter requires more capital)

What u 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 : u need to know how it is measured, weighed and packaged in bags, if not u will be cheated by local agents or distributors, they will cheat u 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 u could monitor it yourself but u need to have an idea/knowledge about it or else u will be cheated by these indian exporters.
5. Price ; cashew nuts price fluctuate almost every week, so u 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 u 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 : u need to know d price u 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: u need to know d source of your business.
10. If u are exporting, u need to know d export duty, fob price, cnf price and freight price.

Advise : first timers, u 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 u how to make money in cashew business but they will never tell u how risky, vulnerable it is. Most of these seminar organize have never 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 u have everything under your control I.e good quality, right people working for u, capital (very important cos u could buy in large qty and store for a higher price later, u 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 u venture into this biz (u either succeed or fail) it depends on how best u manage every situation u encounter during d course of d biz.
I wish u all good luck.

This is just my own piece of contribution to nairaland. I have gained a lot on this wonderful site. am proud to be a nairalander!!

I have just shared with u what u would 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, u have to be present wherever u are buying from, don't just sit down in lagos or wherever and expect your consignment to get to u 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!! But as they say experience is d best teacher, I have gained a lot of experience ever since.

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

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