The cashew price in Ghana has dropped from GHC 8.5 to GHC 7 due to poor quality determined by the international market in the 2023 season. The TCDA CEO, Hon William Agyapong Quaoitoo, described this as unfortunate since it was a deliberate attempt by the farmers and the aggregators who failed to provide the best quality nuts. The global raw cashew nut price per metric ton for 2024 is US $884.30.
The CEO says the new price of GHC 7 is not static and can be increased when the world market determines that the quality of Ghana cashews has gained superiority over other countries in the cashew industry.
The CEO of the Tree Crops Development Authority, Hon. Willian Agyapong Quaoitto, before announcing the new cashew price, had organized a series of workshops for the cashew farmers and aggregators to ensure that the best quality cashew nuts are sold to the market. He stressed that raw cashew nuts’ moisture should not exceed the moisture content of 10 percent.
To support fair and sustainable growth in the tree crop subsector, the CEO claims that a five-year strategic framework (2022–2027) would improve the regulatory and policy frameworks that permit the efficient use of investments from the public and private sectors.
To satisfy the needs of the international market, farmers were urged by William Agyapong, the former deputy minister of agriculture, to cultivate premium cashew seedlings. It was unfortunate, according to CEO Hon. Agyapong, that the lower-than-expected quality of cashew seeds led to a decline in cashew prices in the second half of 2023.
The CEO William Agyapong was optimistic that with their new approach, Ghana cashew will come to the first spot of the cashew league table by the end of 2024.
At the Peter and Rose Hotel, Kintampo in the Bono East region, the CEO of the Tree Crops Development Authority of Ghana, Hon. William Agyapong Quaittoo, declared that it is by law for all cashew business partners to register with TCDA before the commencement of the 2024 cashew season, and that anyone found guilty would face prosecution.
The TCDA national organizer, Kwabena Owusu, pleaded with the farmers to produce quality cashew nuts to meet the best price. He blamed the farmers for the price dropped.
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