In order to buy, process, and export cashew nuts primarily to the United States and China, Beta Group plans to sign a memorandum of understanding with the government of Guinea-Bissau over a five-year period.

Beta Group is a food company based in Kerala and owner of the Nut King brand. He plans to set up an industrial unit in the West African country of Guinea-Bissau for the cashew nut trade. This company wants to invest according to J Rajmohan. Pillai, president, Beta Group, “$100 million over five years to buy, process, and export value-added cashew nuts, primarily to the United States and China.”

In reality, the cashew sector has acquired enormous importance in the country's economy. 2.23 lakh hectares is the estimated area under cashew cultivation with an annual production of 2.30 lakh tons, making Guinea-Bissau the fifth largest producer in the world.