There is so muchpotential within the cashew industry.
However, with thepotential comes the need for a good understanding on howthe industry works.
This product comes from cashew fruits.
Cashew is a perennial crop that grows seasonally.
Unlikeother fruits, its seeds are externally attached to the flesh ofthe cashew fruit.
Alot of extensive research has been doneon cashew by the Cocoa Research Institute of Ghana(CRIG)You may be lost by the mention of CRIG, but don’t be.
Thisbody conducted a series of research on Cashew, which ledto the introduction of improved seedlings.
Today, theresults of this research has resulted in improved cashewyield.
The Relevance of Cashew Nuts
The effort committed to improved cashew cultivation showsits relevance to the economy.
Hence the acceptance it hasgotten among farmers.
Due to its high nutritional value,demand currently outweighs supply.
This is therefore goodnews for investors.
An interesting feature of this crop is itswide demand.
By wide demand, we mean global demandfor cashew.
Currently Ghana is unable to meet up exportdemands.
Cashew nuts has significantly contributed toGhana’s revenue generation.
Starting cashew business inGhana requires the right knowledge.
The cashew value chain engages alot of participants.
Thisimplies alot of opportunities for investments.
However, tobenefit from this, knowledge is key.
This is where thisarticle comes handy.
This is the point where it all starts.Starting a cashewplantation is serious work.
However, this is financiallyrewarding at the end.
Starting a cashew plantation requiresalot of time (usually several years) before it startsproducing cashew.
Here, a nursery is provided where theseeds grow to young trees.
By transplanting these to theirpermanent location, a gradual process of growthcommences.
These trees need care until they are mature togrow without watering.
It is however necessary to note thatnot everyone wishing to start this business needs to grow acashew plantation.
Choosing Where to Focus On
As previously stated, starting a cashew nut businessrequires you to decide the area you would make the mostimpact on.
By impact, we mean being effective. Cashew nutbusiness has an attractive value chain where you canfocus your attention on.
You may want to process yourcashew nuts before selling, or just selling them directly.
Whatever the case, knowing the right strategy that will yieldthe highest financial reward is important.
Processing thesenuts significantly increases the market value.
However,striking a balance between cost and profit is important.
First Obtain Guidance
To start well, it is important to get guidance from the rightsources. The Cocoa Research Institute of Ghana (CRIG), is a good place to start from.
By doing this, youwill have significantly lowered the chances of failure in yourintended businss.
CRIG has carried out a lot of research inthis regard, hence, it is the right body to approach.
Animportant aspect of the research conducted by CRIG is thatyou get to know the sources of demand (both domestic andforeign).
This makes exporting of these cashew nutseasier.
Register Your Business
Starting a cashew nut business of worth requires you toregister your business.
However, registration depends onyour scale of operation (scale of operation will be furtherexplained below).
Gaining official approval enables thebusiness to function at a much more bigger capacity.
Registered agro-allied businesses stand to benefit from alot of incentives..You may want to take this serious as anew start-up will require all the break it can get to enable itstabilize.
Domestic and foreign supply requires you to havea license obtained through registration.
To register yourbusiness, locate the CAC (Corporate Affairs Commission)office nearest to you.
Scale of Operation
Your financial strenght determines your scale of operation.
It is therefore important that you consider your financialstrenght and pattern your business according to availableresources.
Without this, the cashew nut business will likelyfall on hard times (financial) in the nearest future.
Havingan under-funded business is not what you should wish foras it has the ability to cripple business activities.