How To Buy Cashew Nuts In Nigeria: The Complete Guide
Nigeria, being one of the worlds’ largest producers and exporters of cashew nuts to over 54+ countries around the world is a hot destination for cashew nuts buyers already buying cashew nuts from Nigeria and others looking for information on how to buy cashew nuts in Nigeria.
In several other African countries like Tanzania, the government is responsible for the sale of cashew nuts, and so, buying raw cashew nuts from those countries can be very difficult for many cashew nuts buyers from around the world. But in Nigeria, raw cashew nuts and cashew kernels are sold by local companies, and so, this makes buying or looking for information on how to buy cashew nuts in Nigeria from cashew nuts suppliers so much easier for international buyers from Vietnam, India, China, and many more places around the world.
What To Know First
Cashew nuts are produced in over 19 Nigerian states, with the average quality being between 44 to 48 outturns, meaning that no single area in the country is responsible for the bulk raw cashew nuts being produced. However, some areas produce very high-quality cashew nuts that can have outturns ranging from 48 to 53 at the beginning of the harvest. The most popular area in Nigeria producing the highest cashew nuts outturns is the Ogbomosho area of Oyo state.
Now, it’s key to know that Oyo state produces cashew nuts in many parts of the state, but Ogbomosho is simply the part with large volumes of the high quality. This doesn’t discredit the other parts of the state producing cashew nuts.
Another state in Nigeria that produces cashew nuts of up to 50 outturns at the start of the harvest season is Kogi state.
The Common Cashew Nuts Specifications In Nigeria
While international buyers looking for how to buy cashew nuts in Nigeria may have very high specifications for the cashew nuts they intend to purchase, here’s the most common specifications for raw cashew nuts that you can buy in Nigeria:
- Outturn: between 44 to 47 (with 48 to 53 outturns only available at the start of the harvest in February)
- Nut Count: between 170 to 205 per kilogram
- Moisture: Maximum of 10%
- Inspection: SGS
This raw cashew nuts specification is the most common in Nigeria, with the easiest outturns to get being between 44 to 47 outturns. International buyers of cashew nuts in Nigeria can also get 48 to 53 outturns, but only at the start of the harvest season in February.
What About Cashew Kernels?
While Nigeria is a major producer of raw cashew nuts, the country exports very little cashew kernels as there are few cashew kernels processing facilities in Nigeria, with most selling locally to supermarkets, branding their own products, or even trying to export at ridiculously high prices.
If you’re looking for how to buy cashew kernels in Nigeria from local producers, you may need to either find a processor in a rural community, which is very hard to find, or you could partner with a local company to set up a cashew kernel processing facility in Nigeria, buy raw cashew nuts at the lowest possible local price, process the cashew nuts to cashew kernels, and then export to the exit buyer.
When a local cashew kernel processing facility is set up in Nigeria, the profit margins increase for the international buyer because the first step of shipping and reprocessing are cut off already, and now, the product can be exported directly to the real exit buyer in a different country for a higher profit margin.
Another way to profit from the cashew kernel processing business is to process for local companies looking to export cashew kernels from Nigeria to international buyers. This way, the cashew kernel processing facility will always be in use and generating profits at all times.
How To Buy Cashew Nuts In Nigeria
There are two major ways international buyers of cashew nuts can buy cashew nuts in Nigeria. They are:
1). Buy From A Cashew Nuts Export Company In Nigeria:
The most common way for buyers looking for how to buy cashew nuts in Nigeria is to buy cashew nuts from cashew nuts exporters in Nigeria. While this is the common norm for the commodity trading business, there are some advantages and disadvantages.
One advantage of buying cashew nuts from cashew nuts exporters in Nigeria is that depending on the trade process being used, the cashew nuts buyer can simply only place a Letter of Credit (L/C) so that the cashew nuts suppliers in Nigeria can load and ship the cashew nuts to them, only to get paid according to the terms of the L/C.
A disadvantage of the method above is while the purchase may appear to be safe, the cashew nuts would be sold at high prices which may unknowingly appear as low-priced to the buyer.
So, how then do you find cashew nuts exporters in Nigeria?
- Use LinkedIn to your advantage
- Find brokers who represent selling companies
- Attend trade fairs
- Contact the Chamber of Commerce
- Sign Up on International Trade Platforms
- Use search engines
- Hire local agents on a commission basis
- Contact Globexia – Globexia is one of the top cashew nuts exporters in Nigeria and is a premier fast-growing commodity trading company in Nigeria with the ability to export agricultural products ranging from cashew nuts to sesame seeds, dry split ginger, and much more. You can visit the website here.
2). Partner With A Cashew Nuts Export Company In Nigeria:
When international buyers of cashew nuts partner with local companies in Nigeria, they get the commodities for much more cheaper than they would have previously gotten it, and go on to make far more profits than they would have made.
Here, the local company would need to first need to get a Certificate of Registration of Company with Foreign Participation from the Nigerian Investments Promotion Council (NIPC). The company will need to obtain a business permit from the Federal Ministry of the Interior (FMI) after showing proof that the foreign entity has actually invested in the business. And the company will also need to get a Certificate of Capital Importation (CCI) to serve as evidence that the investor’s funds have been brought into Nigeria.
Since the international buyer would be in a direct purchase partnership with the local company, the international buyer can provide funds to purchase much more quantities than would previously have been possible by the local cashew nuts suppliers in Nigeria, and so, both organisations can profit with each other playing their respective roles and the banks ensuring all parties interests are protected.
Cashew nuts exporters in Nigeria like Globexia are great options to partner with in this scenario.
To Sum It Up
Searching for information on how to buy cashew nuts in Nigeria should never be difficult for any cashew nuts buyer as the trade is not controlled by the Nigerian government, unlike in countries like Tanzania. It should also even be far easier to find cashew nuts exporters in Nigeria as long as the cashew nuts buyer is doing so in good faith.
If you’re looking for how to buy cashew nuts in Nigeria, this article is a great place to start. If you need more information on the other hand, you can always contact Globexia or Stan Edom through the details at the bottom of the article.
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The export business remains one of the most profitable businesses in the world, including Nigeria, with profit margins going anywhere from 30% to in some cases over 100%. With the growing clamour by the Nigerian government for entrepreneurs should go into the export business, the need to effectively educate people on everything they need to know and to show them how to make their first one million Naira from the export business in Nigeria has become very paramount.
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An Important Point
Trying to buy Cashew Nuts from Nigeria through genuine cashew nuts suppliers can lead to a lot of wasted time and efforts on the part of the Cashew Nuts buyers. They spend a lot of time vetting cashew nuts suppliers in Nigeria, doubting their results even if positive, and going back and forth too many times than they can count, only to end up either cancelling their decision to buy or making a purchase after months or years have passed.
Finding real Cashew Nuts suppliers in Nigeria can be a problem. To make this possible for Cashew Nuts buyers, Startup Tips Daily Media, through her sister company, Globexia, can export Cashew Nuts to genuine buyers from Nigeria or anywhere in the world.
Whatever will help buyers close genuine Cashew Nuts export-based transactions fast, transparently, and easier, we can make the process as stress-free as possible.
Our Cashew Nuts export business is completely transparent, and as a result, we will not deal with a buyer who intends to cut corners or outsmart any party in the course of the transaction.
In addition to our Cashew Nuts export business in Nigeria, we’re also Sesame Seeds Exporters In Nigeria and can export Sesame Seeds to buyers around the world.
If you’re a genuine Cashew Nuts buyer, you can reach out to us through the contact form below. If you’d like us also to help you export most of your Cashew Nuts, we’d be glad to do so with mutually agreed terms.
If you’re only a scam, don’t waste your time, as the conversation wouldn’t last too long after a few questions and demands to prove your authenticity have been made from our end.
Our Cashew Nuts Trade Specifications are listed below:
Product Type: Cashew Nuts
Quantity: Based On Buyer’s Specification
Price: Starting from $1,200/mt
Trial Order: 20 Metric Tonnes (One 20 ft Container Load)
Trade Process: FOB/CFR
Payment Method: 100% irrevocable and confirmed L/C at sight from a prime bank
Shipping Time: 15 to 25 days after confirmation of L/C
Loading Port: Nigeria
Outturn: between 44 to 53
Nut Count: 170 to 200 per kilogram
Moisture: Maximum of 10%
We look forward to hearing from you.