a must read if interestd in commodity trading- cashew nut...cool cash

We are in another season of cashew nuts business. It is time for local farmers, local agents/distributors, suppliers and exporters to make money. A business man or a trader culd only fit into 2 of d mentioned categories. Its either u are a supplier (supplying to cashew nuts export companies in Nigeria), basically Lagos who in turn export it abroad, most of these companies are owned by indians, india is one of d largest importers and exporters of cashew nuts!!! It would be interesting to know that india produce cashew nuts but they are one of d largest importes and exporters of cashew nuts in d world. This is possible because india have a free trade agreement with most asian countries thus it is better for those countries to import from india rather than import from africa or any other country because of d import duty tariff.
 Going into cashew business is not an easy task for a new beginner cos a lot of things have to be put into consideration eg,
 1. Do u want to be a supplier (supplying to export companies in lagos)
2. Do u want to export yourself (selling to overseas buyers)
3. Capital requirement (how much are u willing to invest Considering the above two options, an exporter requires more capital)

 What u need to know about cashew business / terms.
 1. Cashew nuts are sold per ton.
2. 13 bags make a ton. 30 tons make a truck / long trailer.
 3. Grading or scaling : u need to know how it is measured, weighed and packaged in bags, if not u will be cheated by local agents or distributors, they will cheat u in your presence.
 4. Quality or KOR : cashew nuts in nigeria are priced and negotiated based on d quality. D quality of Nigeria cashew nuts is between 42 - 54 KOR. There is a way this test is carried out by exporters, d test is physical and u could monitor it yourself but u need to have an idea/knowledge about it or else u will be cheated by these indian exporters.
5. Price ; cashew nuts price fluctuate almost every week, so u need to know d current price at every point in time.
6. Packaging: cashew nuts could be packaged in two bags only namely jute or polythene, this also determines d final price u buy from local sellers and d price Ʊ sell to exporters. Cashew nuts in jute bags are more expensive than polythene bags. Most exporters prefer it in jute bags.
7. Haulage or trucking : u need to know d price u will transport ur cashew nuts from one destination to the other, this also affects d price in a way.
8. Exporters of cashew nuts in Nigeria: they are mainly in lagos and mostly indian companies.
 9. Where to get cashew nuts in Nigeria: u need to know d source of your business.
 10. If u are exporting, u need to know d export duty, fob price, cnf price and freight price.
 Advise : first timers, u have to be very careful abt this business, some people are using this business to defraud unsuspecting traders. Most people organize seminars and will only tell u how to make money in cashew business but they will never tell u how risky, vulnerable it is. Most of these seminar organize have never been to any of d villages that produce cashew nuts, they've never been to d farms, meet with d local farmers, local distributors, do not know that the quality determines d price, etc.
 Pls note that cashew is profitable if u have everything under your control I.e good quality, right people working for u, capital (very important cos u could buy in large qty and store for a higher price later, u will also have an edge over your competitors), entering d biz at d right time, at an early period, especially when t february, price will. Below, but it will go high by  march. I could go on and on talking about this business. Research is very necessary, do your own little research before u venture into this biz (u either succeed or fail) it depends on how best u manage every situation u encounter during d course of d biz. I wish u all good luck.
This is just the theory aspect, the main work is physical, u have to be present wherever u are buying from, don't just sit down in lagos or wherever and expect your consignment to get to u without stories, even those who have been in d game for long still monitor it physically sometimes), let your level of trust be minimal. I know a lot of people that have lost money in this business, I was a victim also when I started!! But as they say experience is d best teacher, I have gained a lot of experience ever since. I think I have to stop here. I wish u guys best of luck.

Pls note: this an extract from mr bimbolaji
For advise, assistance, consultancy and partnership, pls contact 08023881557, 07064821943, bimbolajide@hotmail.com