The TCDA CEO, Hon William Agyapong Quaoitoo, described the Ghanaian cashew price decline 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, while Ghana buys a kilo at GHC7. He added that there is a condition that the price could be increased based on the cashew quality produced in the 2024 season.
The CEO asserts that a five-year strategy framework (2022–2027) will enhance the regulatory and policy frameworks that allow the effective utilization of investments from the public and private sectors to ensure equitable and sustainable growth in the tree crop subsector.
The former deputy minister of agriculture, William Agyapong, pushed farmers to grow premium cashew seedlings to meet the demands of the global market. CEO Hon. Agyapong expressed regret that the second half of 2023 saw a decrease in cashew prices due to the lower-than-expected quality of cashew seeds.
The CEO of Ghana’s Tree Crops Development Authority, Hon. William Agyapong Quaittoo, announced at the Peter and Rose Hotel in Kintampo, Bono East, that all cashew business partners must register with TCDA before the start of the 2024 cashew season, and that those who fail to do so will be prosecuted.
Esther Boakye Yiadom, Techiman municipal cashew association secretary, says the buyers who go to farms and buy fresh cashew nuts are the main cause of the price decline. She suggested such practices should stop.
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