Cashew is seasonal fruit that is highly sought after in the Nigerian Market as well as the global market. The species is originally native to the North Eastern Brazil. Major production of cashews occurs in Vietnam, Nigeria, India and Ivory Coast. The Cashew nut is eaten on its own, used in recipes or processed into Cashew cheese or butter. The cashew apple can be processed into a sweet fruit drink or distilled into liquor.
Driven by the rise in demand from china, India and other fast-growing economies, the global cashew boom has generated profits, the business has been of instant success for investors in the cashew business, as investors now worth millions of dollars in annual revenue, and with the world price rising and expected to remain steady, life is changing for those ready to invest in the business.
The cashew Industry has been a growing business over the years in Nigeria in particular. Cashew Production for 2015 was 160,000 tonnes, and fetched 57.6 billion naira revenue. In 2016, we exported 185,000 tonnes and earned 259 million dollars (93.2 billion naira). Last year 2017, 220,000 tonnes was exported and earned 123 billion naira, which means that the value continues to row over the years. But with this still, the demands is yet still more than the supply, this just implies a lot of room and opportunities for investments in this cashew business.
Investing in Cashew Nut business is one of the most lucrative investments you can make. The reason is not far- fetched. Nigeria is one of the largest producers of cashew in the world. It implies that you already have access to the essential commodity. In addition to this, the cashew industry has a high potential for growth, with cashew tree having the ability to last at least 50 years. There is a lot of money to be made if you invest in the cashew nut business.