2. Cashew processing
Next on the list is cashew processing. If you do not have a cassava farm, get one. However, you can liaise with a cashew farmer who will supply you with raw cashew nuts for onward processing. Export of cashew is now one big business, as Vietnam, world largest cashew exporter, is currently experiencing its worst drought in a century.
Cashew sells like cakes in the United States, India, Spain and many parts of Europe. Apart from helping to maintain a healthy heart and bones, cashew also helps in weight loss.
Cashew nuts are used in producing chemicals, paints, varnishes, insecticides and fungicides, electrical conductress, and several types of oil.
Cashew exporters in Nigeria made $250 million in 2015 and $300 million in 2016, according to Tola Faseru, president, National Cashew Association of Nigeria (NCAN), who disclosed this to journalists at the Annual Cashew Logistics meeting held in Lagos recently.
If you wish to process for the local or international market, then be ready to procure machines such as boiler, sheller or cracker, dryer, and packaging machine. Two good things about cashew are that its return on investment is as high as 55 percent and its payback time is just 12 months, say experts.
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