Market Potential: Besides numerous uses, the cashew nut can be put to the demand (local and foreign) which makes it a good source of foreign exchange. The nuts are heavily consumed in temperate countries. They are either prepared as delicacies or used in confectionery. The season starts in February to June/July of the same year while stocks may be available for extended transaction further into the months of the same year. North America and Europe are known as the largest consumers of cashew nut. It therefore has a lot of export market potentials and local industries can also be encouraged to process cashew nuts.
In addition, recent policy of government has made cashew production gain a very tremendous popularity. This is because of the boost given to the non-oil exports. A lot of abandoned cashew plantations located in northern parts of Oyo State (Iseyin, Saki, Oyo and Ogbomoso) have been re-activated by their owners. Suddenly, cashew production is being seen as one of the major sources of foreign exchange earnings.
In view of the above, it has been identified that establishment of cashew plantation is one of the investment opportunities for Nigerian investors. Not only because of its foreign exchange potentials but also as life investment for owners. This project is strongly recommended for consideration by investors.
Requirements, Technical Information: A medium sized factory is required where the processing plant is installed. Cashew nuts processing involves procurement of dried cashew. Cashew is heavily grown in Oyo North, Ondo, Kwara, Kogi, Benue and some northern states. The production processes are parboiling, drying, cracking, sorting and packaging. It has a ready local market and export markets in America, Europe and Asia.
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