W11 Cashew Update: Unpleasant Weather Challenges Cashew Production in Vietnam, SECO Invests USD 10.5 Million to Boost Local Cashew Processing in Ghana

Published 2024년 3월 22일

In W10 in the cashew landscape, poor cashew harvest in Gia Lai province, Vietnam, due to adverse weather conditions has resulted in financial difficulties for farmers. Agricultural experts advise adopting scientific methods and replacing poor cashew varieties to enhance productivity and quality. Similarly, the ongoing hot weather in Bình Phước also threatens the 2023/24 cashew crop, causing financial losses and concerns among growers. In addition, SECO has announced a USD 10.5 million investment in Ghana's cashew and oil palm sectors, focusing on promoting domestic processing.

Adverse Weather in Gia Lai, Vietnam Leads to Poor Cashew Harvest and Financial Difficulties

Farmers in Gia Lai province, Vietnam, are experiencing a poor cashew harvest in 2024 due to adverse weather conditions, resulting in a significant drop in yield and prices. This has led to financial difficulties for farmers who depend on cashew farming. To address this issue, agricultural experts advise farmers to consider adopting scientific and technological cultivation methods and replacing poor varieties to enhance productivity and quality.

Cashew Growers in Bình Phước, Vietnam Face Potential Threat to 2023/24 Crop Due to Ongoing Hot Weather

Cashew growers in Bình Phước, Vietnam, are facing a potential threat to their 2023/24 crop due to the ongoing hot weather. This region accounts for almost half the country's total cashew-growing area. The unpleasant weather conditions have caused financial losses in several regions by reducing cashew productivity. Moreover, the purchasing price of fresh cashew nuts at the beginning of the season is USD 0.04 to USD 0.08 lower per kilogram (VND 1,000 to 2,000/kg) than in 2023. This situation has raised concerns among cashew growers, who already suffer from the increasing costs of agricultural materials and labor.

SECO to Invest USD 10.5 Million in Ghana's Cashew and Oil Palm Sectors

The Swiss State Secretariat for Economic Affairs (SECO) has revealed an investment of USD 10.5 million in Ghana's cashew and oil palm sectors. This funding will be utilized for the Second Phase of the five-year Ghana Private Sector Competitiveness Programme (GPSCP II). This project aims to promote the domestic processing of cashew and oil palm to achieve a 20% increase in the next five years. Additionally, this initiative will focus on harmonizing the value chain, regulatory framework, and capacity building.