In an effort to improve local revenues and processing for cashew nuts, Ghana faces challenges in ensuring fair pricing and overcoming the high costs of production and credit.
Ghana Seeks to Unlock the Full Potential of Its Cashew Industry
Ghana Seeks to Unlock the Full Potential of Its Cashew Industry
Ghana's cashew farmers struggle for fair pricing and processing opportunities as the demand for roasted nuts grows.
Ghana ranks as the world's third-largest exporter of unprocessed cashew nuts, trailing behind Ivory Coast and Cambodia. The tropical nation cultivates around 180,000 tonnes of cashew annually, yet exports over 80% in raw, unshelled form, leading to significant financial losses for local farmers. Nashiru Seydou, a cashew grower, highlighted the disparity between the prices paid to farmers—about $50 for a large 100kg sack—and the retail prices at which processed cashews are sold, which can skyrocket to between $20,000 and $40,000 per tonne.
Local entrepreneur Mildred Akotia, CEO of Akwaaba Fine Foods, is working to increase the percentage of cashews processed in Ghana, though she cites high interest rates—up to 30%—as a barrier to growth. Most Ghanaians remain unaware of the potential of their own cashew industry, as many residents instead consume imported nuts that undergo processing abroad at a fraction of the cost of local production.
The situation has prompted calls for better local infrastructure and support from the government to bolster Ghana's cashew market. While past initiatives, like a temporary ban on raw cashew exports, failed to gain traction, experts like Bright Simons stress that building efficient local businesses will be key to transforming Ghana's economy.
Despite the obstacles, entrepreneurs like Akotia see a bright future. She aims to create a logistics network to ensure fresh nuts are easily accessible and promote Ghanaian processed foods on an international stage. With growing interest from overseas markets, the potential for Ghana’s cashew industry embraces both local empowerment and international opportunity.
Local entrepreneur Mildred Akotia, CEO of Akwaaba Fine Foods, is working to increase the percentage of cashews processed in Ghana, though she cites high interest rates—up to 30%—as a barrier to growth. Most Ghanaians remain unaware of the potential of their own cashew industry, as many residents instead consume imported nuts that undergo processing abroad at a fraction of the cost of local production.
The situation has prompted calls for better local infrastructure and support from the government to bolster Ghana's cashew market. While past initiatives, like a temporary ban on raw cashew exports, failed to gain traction, experts like Bright Simons stress that building efficient local businesses will be key to transforming Ghana's economy.
Despite the obstacles, entrepreneurs like Akotia see a bright future. She aims to create a logistics network to ensure fresh nuts are easily accessible and promote Ghanaian processed foods on an international stage. With growing interest from overseas markets, the potential for Ghana’s cashew industry embraces both local empowerment and international opportunity.
