Cashew traders raise alarm over market disruption by foreign buyers

The Cashew Traders and Exporters Association of Ghana is calling for urgent government intervention to address what they describe as a growing threat to their industry posed by unauthorized foreign buyers.
According to the Association, these individuals, whom they allege are operating under the guise of exporters, are purchasing cashew crops at inflated prices far above the official rate.
This practice, the traders argue, undermines local trade practices, destabilizes the market, and poses a significant risk to the long-term viability of the cashew industry.
Mr. Kwabena Owusu, National Organizer of the Cashew Traders and Exporters Association, highlighted the issue in an interview with Asona Dehyie Kwateng.
He stated that foreign buyers are purchasing cashews at prices as high as GHS20 to GHS25 per kilogram, well above the official rate of GHS15 set by the tree crop authorities.
“These foreign buyers are even purchasing unripe cashews at exorbitant prices, which disrupts the market and causes genuine traders to lose business,” Mr. Owusu lamented.
He added that the practice compromises the integrity of the industry, as unripe cashews do not meet quality standards and could harm Ghana's reputation in international markets.
The Association is appealing to the government, under the leadership of President John Dramani Mahama, to take immediate action to halt these activities.
They warn that the continued unchecked involvement of these foreign buyers could lead to the collapse of the local cashew market, leaving farmers and legitimate traders in financial ruin.
“We are urging the government to step in before it’s too late. If this continues, the market will destabilize, and farmers will ultimately bear the brunt of the damage when these foreign buyers pull out,” Mr. Owusu stressed.
The traders are calling on the government to investigate and enforce regulations that ensure fair and sustainable trade practices within the cashew industry.
They believe stricter oversight and adherence to pricing guidelines set by the tree crop authorities will protect local businesses and farmers from exploitation.
The Association also expressed concerns about the broader impact of these activities, emphasizing the need to preserve the industry’s sustainability and reputation in both local and international markets.
“Without immediate action, Ghana risks losing one of its most promising agricultural sectors,” Mr. Owusu concluded.
Source: Classfmonline.com/Cecil Mensah
Trending News
Gov’t to terminate and re-award Pwalugu dam contract – Agric Minister
10:35Youth unemployment remains alarming despite decline in overall joblessness – GSS
18:01Vice President Opoku-Agyemang pays historic visit to Ministry of Health
13:39Akwatia NDC executives call for unity ahead of September 2 by-election
07:15We need a leader who unites and not divides - Bawumia to NPP
14:02Gov’t moves to revoke mining regulations to bolster fight against galamsey
08:02BOST holds 2025 annual general meeting
15:42A/R: Fire destroys hundreds of shops at Suame-Anomagye market
13:06Razak Kojo Opoku: NPP never rejected Prof. Adu Boahen on tribal or religious grounds
07:04Police arrest man with pump action gun and cartridges at Akwatia
13:51