Monday, January 3, 2011

Export Product Profile: Raw Cashew Nuts

cashew 2
Description: Cashew (Anacardium Occidentale L.) is a tree crop of considerable economic importance to Nigeria and other tropical countries. Apart from being a source of useful products and byproducts for food, medicinal and industrial applications, cashew gives also a useful shade, while ornamental and alley trees are suitable for the control of soil erosion, particularly for the protection of watersheds and dams.

Harvest: Cashew nut setting begins in the middle of dry season, while harvesting takes place mainly in February or March. The entire harvest period occupies about 16 weeks. In the Eastern and Western parts of the country, where quality cashew nuts are grown, nuts are allowed to drop to the ground before they are collected. This practice ensures that only ripe nuts are collected. Nuts normally fall to the ground with their apples attached; the two are normally separated with a twisting action during collection. The remnants of the apple flash adhering to the nuts are removed with a sharp knife. After picking, the nuts are dried in the sun for 2 to 3 days, to reduce their moisture content to about 12 %. Properly dried nuts are packed in jute bags and can be kept for 6 to 10 months, if stored in suitable condition.

Locations: Major cashew growing areas in Nigeria are, by order of importance: Enugu, Abia, Imo, Anambra, Ebonyi and Cross River States in the eastern part of the country; Oyo, Osun, Ondo, Ekiti and Ogun States in the Western part, as well as Kwara, Kogi, Nassarawa, Benue, Taraba, Niger and FCT in the Middle Belt and also Sokoto and Kebbi States in the North West part of the country. The majority of export quality nuts come from the Western and Eastern parts of the country.

Specification: According to SGS (quality inspectors), the standard for raw cashew nuts, unshelled, is specified as follows:
i. Nut count 180-200 per kg
ii. Moisture content 8-10% max
iii. Defective nuts 15% max
iv. Float Rate 18% max
v. Admixture 0.25% max
vi. Foreign matter 0.25% max
vii. KoR, or shelling out-turn 48-50 Ibs/bag
(Obiazu, P. C.,(2000) ‘Quality Requirements for Nigeria Agricultural Products’. Unpublished Seminar Paper.)

Uses: The cashew nut is a popular snack, and its rich flavor means that it is often eaten on its own, lightly salted or sugared. In addition to this, cashew nutshell liquid (CNSL), a by-product of processing cashew, is mostly composed of anacardic acids. These acids have been used effectively against tooth abscesses due to their lethality to bacteria.

Export market: The major buyers of cashew nut from Nigeria are mainly India and Singapore. Smaller percentage goes to Europe.

Export price: The export free on board (fob) price of raw cashew nut varies from about USD 1,000-1,500/MT. However, when an exporter adds value to this product by processing it into kernels, the fob price could quadruple that of raw cashew nut.

Local price: The local price per metric tonne MT for raw cashew nuts delivered EXW Lagos (delivered in Lagos) varies from NGN120,000.00 during the peak season to about NGN160,000.00 at the off season.

31 comments:

  1. very interesting site, and very detailed on export

    ReplyDelete
  2. Thanks for this information. However, how does one carry out a test analysis? Please can you enumerate the procedure to go through and where to go to get the lab analysis and how much does it cost?

    ReplyDelete
  3. Analysis can be done by SGS, it costs about N30,000. Simply take the sample to them and you can get the result in 5days.

    ReplyDelete
  4. Gd Information abt the Cashu Nut..

    ReplyDelete
  5. how do I know the current price of raw cashew per MT?
    Appreciate for reply

    ReplyDelete
  6. how do I know the ACTUAL price of MT of RAW CASHEW.

    ReplyDelete
  7. Which of the prices sir, local market (N120,000) or International price FOB Lagos (1,050).

    ReplyDelete
  8. Thank you for quick reply.
    need both.
    Is there a website where can track daily international prices for raw cashews?

    ReplyDelete
  9. Can you tell me The meaning of "FLOAT RATE"

    ReplyDelete
  10. How do I calculate the FLOAT RATE?

    ReplyDelete
  11. Kindly visit the link below to get the answer to your questions http://exportnigeria.blogspot.com/2011/01/understanding-cashew-nuts-quality.html

    ReplyDelete
  12. i have the desire to enter into plantation farming especially cashew&pineaple. Pls i want to know the capital and area of land it required for one start it

    ReplyDelete
  13. Thanks for your request, however we only provide info on the export of these products and not on their cultivation/farming.
    Thanks

    ReplyDelete
  14. good day,plz how could someone invest in the cashew nuts bussines, simply by bying from the farmers and selling to the market?
    thank you

    ReplyDelete
  15. We can assist you with all the needed info to enable you get started as soon as possible through our export mentoring service and seminars.
    Thanks

    ReplyDelete
  16. I am bankole kayode, i really appreciate and enjoy this blog post. I will like to know the current local price for Cashew? Thanks in anticipation

    ReplyDelete
  17. please send me the cost requirement for setting up a cashew processing plant

    ReplyDelete
  18. please i have cashew nut to sell in stock for who ever interesting in it please call 08169252759

    ReplyDelete
  19. My name is Jack.

    1. I love this blog. How can I find a buyer if I have the product to sell and I don't leave in Lagos?

    2. By standard measurement, how many kgs makes a metric ton?

    ReplyDelete
  20. 1. I love this blog. How can I find a buyer if I have the product to sell and I don't leave in Lagos?----We can assist you with both local buyers and international buyers.

    2. By standard measurement, how many kgs makes a metric ton?--- 1000kg= 1mt

    ReplyDelete
  21. I like this site very much.Sir can you help me the reliable cashew exporter for me?I am from india.

    ReplyDelete
  22. Kindly note that we can assist with your request.
    However, kindly send your request to info@3timpex.com.

    Thanks

    ReplyDelete
  23. Hi.
    How much does it require 2 invest in dis business & how profitable is it.

    ReplyDelete
  24. You need about 1.5Million per container and the ROI is about 20-25% or more depending on your procurement strategies.

    Thanks

    ReplyDelete
  25. Dear Sir,

    We have about 337MT of raw cashew nuts in a warehouse in Isolo.We had stocked it to ship it to a buyer in Vietnam but the buyer is yet to issue us LC.We want to sell it off immediately to avoid paying demurrhage on the rented warehouse.
    We will restock when the buyer issues the LC.
    The specs are 48-51lbs KoR,195 nuts per kg max, 8-9% max moisture.

    Can you connect me to some local buyers in Lagos? We want it cash and carry.

    Thanks

    ReplyDelete
  26. Hi Emmanuel,
    are you rewady to sell immediately?
    We need cashew nuts of your specs.
    Please call 08102512581 now,so we can discuss.
    Thanks.

    ReplyDelete
  27. Hey,
    Hw do u determine the quality inspection when u come across one

    ReplyDelete
  28. We can discuss this on phone at your convenience.

    ReplyDelete