Ghana’s cashew traders and exporters are raising serious concerns about what they describe as the destabilization of the local cashew market by unauthorized foreign individuals.
According to the Cashew Traders and Exporters Association, these foreigners are purchasing cashew crops at inflated prices, bypassing established trade practices, and threatening the sustainability of the industry.
Speaking on behalf of the association, Mr. Kwabena Owusu, National Organizer, highlighted that these foreign actors are exploiting the market under the guise of being exporters.
“They claim to be exporters but are trading directly in the market, offering prices as high as GH₲20 and GH₲25 per kilogram, significantly above the official price of GH₲15,” he stated.
The traders argue that these inflated prices not only disrupt the pricing structure set by tree crop authorities but also encourage the harvesting and sale of unripe cashew nuts, which compromises the quality of the produce and the reputation of the local industry.
“This is a serious issue,” Mr. Owusu emphasized during an interview with Asona Dehyie Kwateng. “These foreigners are destabilizing the market, and genuine traders are losing business. If this continues unchecked, the entire industry could collapse.”
The association is calling on the government, led by President John Dramani Mahama, to intervene urgently. They warn that if the practice persists, it could have devastating long-term effects on both traders and farmers.
“We are appealing to the government to step in before things escalate. If this continues, we may not have a viable cashew market in the future. These foreigners will eventually leave, and our farmers will be left with nothing,” Mr. Owusu added.
The traders’ concerns extend beyond financial instability. They fear that the unsustainable practices encouraged by these market disruptions will ultimately harm farmers and undermine Ghana’s position in the global cashew industry.
The association is urging the government to investigate the situation thoroughly and implement measures to protect the local market.
They recommend stricter enforcement of trade regulations, ensuring that all stakeholders operate within the guidelines established by the tree crop authorities.
Immediate action, they believe, is critical to safeguarding the livelihoods of traders, exporters, and farmers alike.
