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    Date submitted
  • 27-Sep-2017

Cashew Processing Plant

Abstract

Cashew is one of the most sought-after nuts among dry fruits obtained from an exotic tree species. The demand for cashew nut is gradually increasing, whereas its supply is limited. Nigeria happens to be one of the largest producer, of cashew nuts in the world. As it is impossible to consume raw cashew and cashew apple, thus, both of them need processing before consumption. Cashew nuts, which is one the famous dry fruits, involves processing of raw cashews. Cashew Nuts can either be consumed directly or converted to a variety of products. Cashew was introduced into Nigeria by the Portuguese traders around the 16th century (Woodroof 1967; Ohler, 1979). It was first planted in Agege, Lagos State, from it spread to a few other parts of the country through the transfer of nuts by man. For over 400 years after introduction, cashew trees were exploited mainly for apple; no commercial value was attached to the nuts (Aliyu, 2012). Many of the trees flourished in the wild while being utilized for a-forestation and erosion control scheme particularly in the escarpment areas of Udi in Anambra state. The first commercial cashew planting in Nigeria was in mid 1950 at Ogbe, Oji, Udi and Mbala by the defunct Eastern Nigeria Development Corporation (ENDC) and Iwo, Eruwa and Upper Ogun by the defunct Western Nigeria Development Corporation (WNDC) (Akinwale and Esan, 1989; Asogwa et al., 2009). These plantations were established with introduced Indian cashew varieties. Progress in the cashew industry then was low due to general neglect and poor management of the plantations. Commercial cultivation of cashew in Nigeria dates back to more than 60 years, while research and development into its production, processing, and marketing started in 1972. The past four decades were marked by the introduction of exotic cashew genotypes, selection, cultivation, and production from local and exotic varieties.

Additional Questions

Who is your customer?

Local - Citizens in Nigeria International - USA, Japan, China

What problem does this idea/product solve or what market need does it serve?

Export Market: The export market of processed cashew nut has not really been tapped into, Nigeria does export raw cashew nuts to Vietnam, where it's been processed and then resold to major markets. With the growing interest of Walmart looking to spend 7 billion USD to purchase processed cashew nuts from Nigeria, WEWINGHIPERE GLOBAL is positioning itself to set up a processing plant to assist the country reaching this goal, we already have access to cashew farms so we are all set to proceed with setting up a state of the art cashew processing plant in the country to cater for demands mostly from Walmart. The goal of WEWINGHIPERE GLOBAL is to capture about 30% of Walmart demands from Nigeria in the first year. (Discussions with Walmart are still ongoing)

What attributes will make this idea/product successful? Why do you believe that those features will create success?

Nigeria has a growing population so the demand for products locally is very high

Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?

The main domestic market is mainly the central part of the country, but with an improved marketing strategy which WEWIGHIPERE GLOBAL will be embarking on the domestic market is set to expand.