The Tree Crops Development Authority (TCDA) has attributed the sharp decline of the price of cashew in the country to poor yields.
According to a representative of Farmers on the TCDA, Joseph Alexander Bonsu, Ghana’s international price for cashew fell marginally from 1,050 dollars to 830 dollars per ton.
In 2023, he said the country’s cashew product was considered the best quality in the sub region internationally and thereby fetching the nation a good price. However the price of cashew has declined locally from GHC8.5, and now selling between GHC7.5 and GHC7.00 per kilogramme.
Mr Bonsu was speaking during an engagement with cashew farmers and stakeholders organised by the Cashew Watch Ghana (CWG) held at Sampa in the Jaman North District of the Bono Region.
He said the rise in the dollar rate and improved quality yields that met international standards remained a key index to determine a better price for cashew products.
The National Convener of CWG Raphael Godlove Ahenu, underscored the need for cashew farmers in the Ghana to form cooperatives in tackling the challenges confronting the sector, including access to ready markets and good market price for the nuts.