Ghana: US$7bn cashew market still untapped

Published Feb 27, 2024

Tridge summary

Cashew Watch Ghana (CWG) has highlighted that Ghana is not fully exploiting the $7 billion global cashew market, with its current annual earnings of $350 million falling short of its potential. CWG believes that with adequate support from the government and private sector, Ghana could increase its cashew export earnings to over $660 million. Despite being a top non-traditional export, the sector faces challenges including low production volumes, poor value chain coordination, and lack of support. The cashew processing sub-sector, which contributes nearly half of the industry's profits, also struggles with issues such as labour costs, quality control, energy costs, and price fluctuations.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

By Wisdom JONNY-NUEKPE With an average estimated cashew export earnings of US$350million per annum, Cashew Watch Ghana (CWG) – a civil society organisation – has said the country has yet to fully take advantage of the US$7billion global market. Cashew Watch Ghana described the current earnings as below potential, emphasising that the country has potential to fetch more than US$660million if government and the private sector capitalise on the current global prospects of the economic tree to promote production, value addition and exports. The country’s cashew export earnings in 2020, which was US$340million, according to CWG, should only be a starting point to make more progress toward harnessing the full potential of the sector. With an estimated annual production of between 110,000 and 130,000 tonnes of raw cashew nuts, the CWG advocated that more efforts be put in place to enhance production, storage and value addition. If harnessed properly, it said the sector will be able to ...
Source: Thebftonline

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