Credit: Kekeli K. Blamey
The Cashew Traders and Exporters Association of Ghana has raised concerns over the unlawful activities of unauthorized foreign traders in the market.
These traders are allegedly manipulating the market by purchasing cashews at inflated prices, disrupting established trade practices and threatening the livelihoods of local traders.
According to the association, foreign traders are buying cashews at prices as high as GH¢25 per kilogram, significantly exceeding the official selling price of GH¢15 per kilogram set by the Tree Crop Development Authority (TCDA).
This practice not only undermines the established pricing system but also leads to the purchase of unripe cashews, damaging the local industry and value chain’s integrity.
“These foreign dealers are currently trading in the local market instead of exporting the commodity,” said Kwabena Owusu, an official of the association. “This activity may potentially lead to the collapse of the local cashew industry.”
The association fears that if this practice continues, it will cripple cashew buying businesses and negatively affect farmers once the local market is destabilized.
The TCDA had increased the minimum price for cashew in 2025 to GH¢15 per kilogram to fairly compensate farmers for their labor and production costs.
The price increase was aimed at improving farmers’ livelihoods and encouraging more production. However, the association believes that the unlawful activities of foreign traders are undermining this effort.
The TCDA has announced that it will continue to monitor economic conditions and adjust the price if necessary. The price increase may also be due to volatile exchange rates between the dollar and the cedi.
The Cashew Traders and Exporters Association of Ghana is calling for urgent action to address these issues and protect the local cashew industry. The association is urging the government to take steps to regulate the activities of foreign traders and ensure that they comply with the established pricing system.
The association is also calling on the TCDA to increase its monitoring efforts and take action against any traders found to be engaging in unlawful practices.
