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There are few dreams bigger than becoming instantaneously wealthy, and for some Nigerians that dream may be realisable as the Nigerian Raw Cashew Nut (RCN) season opens today February 10, 2014. Yes, Nigerian raw cashew nuts are in high demand particularly in Asia and most sellers will begin to enter into contracts with their foreign off-takers as farm gate prices become known today.
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Ready for harvest
The cashew nut season which typically lasts till June, is most rewarding in its first three months when the kernel out-turn ratio (KOR) is highest. Kernel Out –turn ratio which simply implies the percentage of the good cashew kernels recoverable from a lot of raw cashew nuts is higher in the months before the rains come. And so, better KOR means better money. Typical KOR at the start of the season is 51 percent but this dips to as low as 44 percent by June so new entrants are advised not to make ambitious commitments far into the season. Typically, season flag-off prices start at about N60,000.00 per metric tonne and sell between $900 to $1,500 per metric tonne CNF (Cost and Freight) but could fluctuate upwards or downwards very quickly based on the workings of the market.
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Bagging the nuts
Traditional buyers of Nigerian RCN are Indians, Vietnamese and Chinese. However, Indians often pose certain challenges that are unusual for other buyers, often reneging on contracts so caution is needed.  Always insist as part of contract terms that an irrevocable Letter of Credit is opened by the buying party. This will guarantee you of their capacity to pay once shipping documents are presented to the buyer’s bank. Many Nigerian raw cashew nut traders have lost hundreds of millions in naira to other international trade payment options like Bills for Collection and Open Account. Please avoid them.
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Bags of cashew nuts ready for importation
Cashew nuts serve dietary, medicinal and industrial purposes and are in large demand for the production of anti-bacterial preparations, varnishes, insecticides and car brake pads. In the coming weeks, several trucks will be hauling tonnes of RCN from Dekena in Kogi State and Ogbomosho in Oyo State to terminals in Lagos, from where these produce will be loaded in containers and shipped for some extra dollars.  

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This article was first published on 10th February 2014

nehijesu

Nehikhare Omotayo Igbinijesu is an Economist, Poet, and Social Entrepreneur. 'He is the author of The Code: A Simple Story About Raising Great Women' and 'Marriage: 12 Questions You Need To Ask Before You Say, “I Do”'. He lives in Lagos with his wife, Akudo and two sons. He is Co-founder of Stuffsilos.com, a motivational resources company based in Lagos. You can email him via nehijesu [at] yahoo.co.uk


Comments (50)

50 thoughts on “Discover Nigeria: Cashew Nuts Season Opens Today”


  • We are export trade firm in the business of helping cashew traders secure export contract with a secure payment. call 07053944321


  • Please where can i get cashew nut in large quantity, i need it for export. Contact phone 2348035101845 thank you


  • Sir where can I get cashew but dry once for export.my phone nos-07034999959 ,08021254332


  • please am a Ghanaian an in cashew business for past eight years. the person asking for more quantity to buy should contact me.


    • Hi
      i want to buy cashewnuts in india


  • email me on johnjoneee@gmail. com


  • I am an exporter of raw cashew nuts, we export the said from Nigeria and Benin… For your interests plz call +234 8153686120 or Mail; marcadex@gmail.com


    • I can serve as your representative here in India. As an exporter which you are, I can connect you to potential buyers here in India, and then we discuss my commission..phn number to contact is +919873309350.


  • we have a enough cashewnut in our area in kogi state can you come and buy as much as you want?and i want to served you as an agent to help u buy from local buyers in my area.08036524086


  • we have a enough raw cashewnut in our area in kogi state can you come to my area and buy it as much as you want?so that i can serve you as an ur agent.Abdul 08036524086


  • heloo


  • Well, you can reach us further on exporting of Cashew, Charcoal s and Foodstuffs from Nigeria to Europe and other parts of the world 0818 719 7472


  • magnificent issues altogether, you simply won a new reader.
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  • I need buyers of cashew nuts from China.
    My contact- +234 802 327 8932


    • I have buyers of raw cashew nuts from India, if interested, call this number; +919873309350.


  • Please where can i get cashew nut in large
    quantity, urgently In a good quality for exporing. Contact phone
    2347014805290


    • Kogi is the place. 08072528699


  • Do u have roasted\dried cashew nut
    in large
    quantity, and in good
    quality for exporting. Contact
    phone
    2347014805290


  • Hello guys I am looking for processed cashew nuts upto 200 tons please email me dixon@sqtafrica.co.za


  • Dear sir/madam,

    Im interesting on cashew nuts product. Could you send me quote for w240 and w320.

    Rgds,
    Zamzari


  • People be careful. 070 and 080 phones this premium rate numbers one second -1 dollar. If you do not have an email address for a contact, then it is scammers.


  • Company in Ukraine to buy a batch of peeled cashew nuts and other nuts. Please contact me micromaloy@yahoo.com


  • We are buyers from India for raw cashew nuts. Local wholesellers and exoporters with lagos office, please contact.


  • I export raw cashew nuts to India and other countries. Give me what you want and I will search and get it for you…contact me: cnutsenterprise@yahoo.com
    +2348060850783
    +2347084593537
    Thanks


  • I export raw cashew nuts to India and other countries. Give me what you want and I will search and get it for you…contact me: cnutsenterprise@yahoo
    +2348060850783
    +2347084593537
    Thanks


  • Are u looking 4 where 2 buy raw cashew nut and beneseed in nigerian? In large quantity come 2 kogi state. +2348036524068


  • We have a large cashew nuts plantation in Dekina LG, Kogi State Nigeria. We as well an active participants in buying locally during the season. We can supply not less than a hundred tonnes between February and may. Currently we are shining our eyes looking for a genuine partner or to be an agent supplying to prospective exporters. The business is genuine and the party involve could go round our plantation and other evidences for his perusal. Contacts: akwu_jonah@yahoo.com or Tel:07039087476, same number for whatsapp. Waiting for response on first come, first serve basis.


  • We offer our clients raw cashew nut and processed kernels. Our cashew nuts are checked against various parameters to ensure the premium quality. W180,W240,W320. Packed in 80kg jute bag. For price/FOB quotation, email olayinkafolabi26@gmail.com


  • If you are a prospective buyer or exporter of cashew nut contact us as your agent, you will be happy for dealling with us.
    contact phone numbers :- 08098730288, 07016366511, 08167647380.


  • Before you start your cashew nut buying and selling, i advise you read this http://davidprof.com/blog/how-to-become-a-successful-cashew-nut-trader/


  • hi customer! we have quality cashew nut in ofu local government area in kogi state which is the most quality in Nigeria, u can buy as much u can, provided on the number of tones you need. contact; 07058544899


  • I want to be your straight agent of cashew buyer from my area ofu lga kogi state,I v been into the business for so long. I ll a sure u of the grade A quality, also from various locality that normally produce the best quality in the state contact me on hayatu.b60@gmail.com. or 07058544899, 08180432400 be ware that the business have started.


  • I am looking for high quality KOR cashew nuts in large quantity for local processing and consumption at a good price. Please contact me on: 08063694931 or 08023348227

  • ade

    Kudos to the writer of this beautiful and useful information. This is true picture of raw cashew nut business in our Nobel Nigeria.
    This is Adebagbo Trading Store. ATS. We source for our raw cashew nut directly from farmers. any ready buyer are free to contact us. +23408035144473. or adebagboabass@gmail.com


  • Raw cashew nut will be flagged off next week. We are farmers and exporters of raw cashew nut. We offer our clients raw cashew nut and processed kernels. Our cashew nuts are checked against various parameters to ensure the premium quality. W180,W240,W320. Packed in 80kg jute bag. We are opened to questioning and inspection by your team. For price/FOB quotation, email:

    olayinkafolabi26@gmail.com

    Bb pin 58BF8F56


  • Hello buyers,
    We are supplier of raw cashew nuts, seasame seed, dry ginger, hardwood, market, and all agro products. Our warehouse Is located in oyo state and ogbomosho.
    Contact us: 08050771478, 08132569980, 08174748555. OGANNY TRADING ENTERPRISE.
    Thanks


  • Please what is the opening price for a ton of ogbomoso cashew this season(today)


  • i have demands to supply tonnes of cashew nuts to india, i am new in the business can anyone give me an insight of where i can get cashew nuts and is closer to lagos.you can reach me on my number 08066098095..adejoke4sure09@yahoo.com.


  • Hi Adejoke, u can call me on 07058544899 or 08180432400 if really u r serious come to Kofi state for the best quality.


  • Hello Joke, The mail address you posted there is not correct . if you are serious we can supply you or guide you through. please send mail to oluwatobioni83@gmail.com


  • if u need any of this products,u can contact me raw cashew nut,moringa seed,soya beans and dry split ginger.call/watsapp 08063238801/tmmpearls@gmail.com


  • Any serious buyer should contact us for good quality cashew nut in iseyin oyo state 08078659978 or 09081258969
    bezat89@gmail.com


  • dear all suppiler , we are importer of raw cashew nuts from Nigeria and Ogbomosho state ,
    need good and genuine supplier who can supply me in lc payment term , need 1000-3000 ton per year


    • Hi Akshay,

      R u still on the cashew business?
      If yes, contact me at amhagos@yahoo.com or/and +1 587 7076106.

      Thanks.


  • Hi
    i want sell round nuts and buy cashewnuts in india
    E-mail: patelweb14@gmail.com


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