The Lionseal Industrial Limited says it will be exporting 15,000 tonnes of Raw Cashew Nuts (RCN) from Nigeria, in addition to opening up new markets for local businesses.
The Export Business Head of the firm, Mr. Bishnu Pattanaik, said the Nigerian market for sesame, cashew, soybeans, and gum arabic has been growing, with Lionseal increasing exports in the coming years.
At an end-of-cashew-season ceremony for the 2024 season in Oyo town, Oyo State, Pattanaik highlighted the renewed vision of the firm’s founder, Rajashekhar Hande, which includes, providing farmers with top-quality chemicals, thereby, establishing a strong and reputable brand.
“Starting from scratch, the company has achieved significant milestones, targeting 6,000 tonnes of soybeans, 2,000 tonnes of sesame, and approximately 5,000 tonnes of raw cashew nuts.
“For the next season, starting May 2024 to April 2025, our target is 5,000 tonnes of sesame, 23,000 tonnes of soybeans, 15,000 tonnes of RCN, and other agro commodities like ginger, sunflower, dry hibiscus, and others, totaling around 3,500 tonnes.”
According to him, Mrs. Indu Hande, the company’s lead expansion promoter, is committed to ensuring that partners receive the best value for their products. Consequently, the company is eliminating middlemen through its network of retail outlets in its agro chemical business.
This initiative, he said, has proven successful, encouraging direct feedback and response from users and clients.
“A key issue we faced was the lack of upward communication about our users’ needs. To tackle this, Lionseal decided to eliminate the middleman and establish a network of retail outlets. This has proven to be a successful strategy.
One of our farmers stated, ‘Lionseal’s direct approach has made it easier for us to get the products we need, when we need them’.”
Continuing, he said: “The volatility of the dollar in Nigeria posed challenges for our import payments. Consequently, at the end of 2022 and the beginning of 2023, we ventured into the agro-commodity export business, which commenced in 2023,” Pattanaik explained.
