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Ghana Cashew Market Guide

Country Specific
Oct 22, 2021
Edited by
Roy Park
HS Code: 080132 - Nuts, edible; cashew nuts, fresh or dried, shelled
FAO Code: 0217 - Cashew nuts, with shell
Share in Export
0.30%Rank 17
Share in Import
0.02%Rank 91
Share in Production
Export Volume
1Y -33.93%
Import Volume
1Y +20.10%

Production Supply Chain

How is the supply chain in Ghana?

-Farmers/producer -> Processor (Drying and packing) -> Exporter

-Most of the time, companies buy the raw cashew nuts from the farmers and then process/dry themselves because, in order to buy cashew nuts, one needs a company document.

-The second most prominent case is wherein farmers form a coop and process then sell.

-Sometimes, the farmers are connected to agents who process the cashew nuts

-It’s rare that farmers also do the drying and packing themselves alone.

-Middlemen play a big role in the industry because most farmers don't have the capital to process themselves.

Cashew Nut Kernel

How does the processing work in Ghana?

-Main producing regions are (from biggest to smallest):(Brong-Ahafo/Afram Plains > Northern region > Upper West region > Upper East region > Coastal Savanna)

-The peak season for selling is from January to May.

-Production goes down during the rainy season because the cashew nuts have to be dried under the sun.

-Cashew nuts are dried under the sun and then packed

-95% of cashew nuts from Ghana is exported in the shell so there isn’t much processing needed

-When the order comes in, cashew nuts are brought out from the warehouse. It’s not possible to get fresh harvests as these have to be dried prior to packing.

-Usually, there isn't much stock left as the suppliers usually already have contracted buyers. Moreover, the suppliers do not want to hold stocks.

-This is why the price is quite high during the non-harvest season.

-Sometimes, suppliers buy from other suppliers to meet demand. 

Cashew Nut Kernel

Which Are the Main Financial Institutions Providing Support for the Cashew Industry in Ghana?

Agricultural Development Banks, Rural Banks, National Investments Bank, ECOBANK, Merchant Bank and other Commercial Banks are the main financial institutions providing support for the cashew industry in Ghana.

The Government of Ghana has given priority to the cashew sector, more specifically through the Cashew Development Project of the Ministry of Food and Agriculture. The have given training and technical advice on cashew production to more  45,000 farmers over the past few years.

Raw Cashew Nut
Cashew Nut Kernel

Trade Overview

What Is Ghana’s Position in Cashew Nut Production and Market?

Cashew nuts in Ghana are mostly produced by small-scale farmers representing about 85% of the total production. It is estimated that over 70,000 hectares of land in Ghana are used to grow cashew nuts. Some of the cashew nut growing areas include; Ahafo and Bono regions. Ghana currently produces around 85,000 metric tons of raw cashew nuts each year, which accounts for about one percent of the worlds’ total production

 Cashew production in Ghana is primarily intended to meet unique niche demand (for export) and not household consumption, although a small proportion of nuts are processed for local consumption. Almost all of Ghana’s cashew nuts are exported raw. Of this, over 90% is exported to India and Vietnam by Asian exporters and processors.

Recent agricultural development in Ghana has meant cashew export has received considerable attention due to its ability to push non-traditional agricultural exports.

Raw Cashew Nut
Cashew Nut Kernel

Which countries are top producers for cashew nuts?

The global top producer of cashew nuts is Ivory Coast (792.68K MT), followed by India (743K MT), then Burundi (283.33K MT). From fourth to tenth place are Vietnam, Philippines, Tanzania, Benin, Mali, Guinea-Bissau, and Brazil. 

Cashew Nut Kernel

What Countries Are Buying Cashew Nuts From Ghana ?

According to the Ghana Export Promotion Authority ,Ghana exported about US$340.7m of raw cashew in shell to 7 countries across the globe in 2020 alone.

It further notes, Vietnam was the main destination for Ghanaian exports of cashew nuts in shell, representing more than half (58.34%) of all cashews in shell exported to the world in 2020. India was the second largest export destination for cashew nuts in shell from Ghana (41.41% in 2020). China was the third importer of cashew nut in shell with an estimated import value of

US$295 thousand.

Major market destinations for Ghana's cashew (HS Code 080131 in shell) are Vietnam, where total exports amounted to USD 198,763K, and India, consuming USD 141,081K worth of Ghanaian cashew.

Volume of shelled and unshelled cashew nuts exported from Ghana from 2010 to 2020(in metric tons)

The only two countries that received significant amounts of cashew nuts in shell from Ghana are Vietnam and India. In both markets, Ghana is an important supplier, but there is room for

growth.  New and attractive markets for Ghana include China, Saudi Arabia and U.A.E.

Raw Cashew Nut
Cashew Nut Kernel

Regulations in Exporting Country

How is the export process in Ghana?

-FOB price is around USD 1100-1200/MT (2021 basis)

-The Cashew nut industry is a small margin business

-Suppliers usually receive FOB or CIF but never CAD.

-The export process isn’t regulated much by the Ghanaian government

-Since Cashew nuts fall under non-traditional exports, there is a separate standard procedure that has to be followed. The suppliers are to secure these documents.

Cashew Nut Kernel

When Is the Export Process for Cashew in Ghana?

The peak season for cashew nuts in Ghana is from January to June. Cashews produce the highest yields when cultivated in fertile sandy and loamy soils. Any altitude from sea level to 1000 m is requisite for the plant to flourish. Temperature requirements are anything from 20°C to 34°C. Cashew nuts take two months to ripen fully. The cashew tree is an evergreen tree that grows in tropical regions. The tall variant of the cashew tree can grow up to 14 meters while the dwarf variant can reach heights of 6 meters. 

Basic Requirements for Export

Any company or enterprise which intends to deal in exportation of exportable goods or items in Ghana must:

-Be registered with the Registrar-General’s Department.

-Be registered with the Ghana Export Promotion Council and obtain a number.

-Get a Taxpayer Identification Number (TIN) from the Ghana Revenue Authority or a Ghana Card PIN.

Procedure for Traditional Export

-Obtain a Bank of Ghana Exchange Control Form A2 from your bankers.

-Complete the Customs Declaration Form electronically and submit to Customs via the Integrated Customs Management System (ICUMS).

-Attach all relevant documents; Certificates, Permits etc. (for cashew nuts an export permit from the Ghana Cocoa Board is required)

-When the declaration is validated by Customs, present goods to Customs at the Export seat to the Exit Port or Station for Customs Inspection or Examination.

-If Customs is satisfied with the examination, the goods are then released for export.

For in shell cashew nuts, import tariffs for Ghana to India and Sri Lanka are 30%; China also has a high import tariff (20%). Other export destination have 0% with the exception of Vietnam, which has 5% tariff rate.

Raw Cashew Nut
Cashew Nut Kernel

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