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Friday, June 21, 2024
BusinessCashew industry represents a promising prospect for economic growth - Raphael Ahenu


Cashew industry represents a promising prospect for economic growth – Raphael Ahenu


The National coordinator of Cashew Watch Ghana (CWG), Raphael GodLove, asserts that the nation’s cashew sector serves as a beacon of optimism for economic advancement, poverty reduction, and employment generation.

He emphasized that the cashew industry has played a pivotal role in Ghana’s economy, providing livelihoods for over 800,000 individuals involved in various facets of the supply chain, including farmers, factory workers, buyers, and exporters.

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Mr. Ahenu conveyed these sentiments during a gathering with political parties to address challenges facing the cashew sector and chart a way forward. The meeting, attended by 62 farmers and representatives from political parties in the Tain District, Jaman North District, and Jaman South Municipality.

He highlighted that cashew has consistently been among Ghana’s top non-traditional export commodities, with an annual production estimated between 110,000 to 130,000 tons of Raw Cashew Nuts (RCNs). Approximately 85 percent of these nuts are exported, earning the nation a substantial $128.70 million in the first quarter of 2021, as per Bank of Ghana data.

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Mr. Ahenu underscored the importance of policy recommendations jointly presented by Cashew Watch Ghana and its funding partner, Star Ghana Foundation, for inclusion in the 2024 political manifestos. These recommendations aim to foster the development of the cashew sector, enhancing productivity, sustainability, and global competitiveness.

He outlined a comprehensive four-year plan launched by CWG in collaboration with Star Ghana Foundation to bolster productivity, sustainability, and global competitiveness in the cashew industry. The plan prioritizes efficiency and productivity enhancement, quality improvement, market access, and export promotion, alongside support for smallholder farmers and processors and the promotion of sustainable practices.

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Mr. Ahenu emphasized that the cashew industry has already demonstrated significant economic potential, with projections indicating further revenue growth and economic development with the implementation of the new plan.

He mentioned the allocation of funds for research institutions and universities to conduct studies on cashew cultivation, processing, and marketing. Additionally, efforts will be made to strengthen agricultural extension services to provide farmers with training on best practices, pest and disease management, and efficient input utilization.

Mr. Ahenu concluded by highlighting that CWG’s plan represents a significant milestone in efforts to transform the cashew industry, expressing confidence that with support from partners and stakeholders, the full potential of the cashew industry can be harnessed to drive economic growth and prosperity.

He emphasized that Ghana’s cashew industry is on the cusp of transformation, with boundless potential for growth and prosperity, which will in turn drive economic development across the country.

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