The sector brings in not less than between 400 and 500 million dollars revenue to help in the country’s current economic crisis.
The Ghana Cashew Association of Ghana has designed a 10-year master plan to boost production from 50,000 metric tonnes to 200,000 metric tonnes per annum by 2025.
This was revealed at the first ever National Cashew Dialogue as part of a six-month advocacy programme on the theme; “Revitalising the Cashew Sector: An Opportunity Neglected by the Nation.”
The sector brings in not less than between 400 and 500 million dollars revenue to help in the country’s current economic crisis, and with the potential prospect of cashew production locally, it is anticipated that the crop would increase from its current 50,000 to 200,000 metric tonnes (MT) annually with a processing capacity of about 90 per cent, according a statement issued by the Association prior to the Dialogue.
The sector currently has 14 processing factories in the country with a processing capacity of 60,000 MT while the country produces 50,000 MT of raw nuts.
Fatima Alimohamed, the Agriculture Sector’s Vice Chairperson at the Association of Ghana Industries, says Ghana cannot afford not to take advantage of this opportunity.
She said at the forum: “Africa and more so Ghana needs to double its overall production to meet future needs of its population. Our focus needs to be on emerging crops other than Cocoa, and to help quench that thirst the country needs to get into the race immediately.”
The global cashew market was valued at up to $7.8 billion last year and is projected to grow by 15% this year. Growing demand from China is expected to sustain the vitality of the market.
The master plan presents an unexpected but welcome opportunity to diversify agricultural exports beyond cocoa, gold and crude.