Cashew industry has become a beacon of hope for economic growth

Mr. Raphael GodLove Ahenu, National convener of Cashew Watch Ghana (CWG), says the county's cashew industry is a beacon of hope for economic growth, poverty alleviation and job creation.He said Ghana's cashew industry has been a significant contributor to the country's economy, with over 800,000 people employed across the supply chain, including farmers, factory workers, buyers, and exporters of the commodity in Ghana, which has impacted significantly.Mr. Ahenu made the statement at a meeting with political parties on cashew sector challenges and the way forward.It was attended by 62 farmers and representatives of the various political parties from the Tain District, Jaman North District and Jaman South MunicipalityHe said cashew had been one of Ghana's top non-traditional export commodities, for the past five years with an estimated annual production of 110,000 to 130,000 tons of Raw Cashew Nuts(RCNs), in which 85 per cent of the nut were exported, earning the country a substantial $128.70 million in the first quarter of 2021 according to Bank of Ghana data.Mr. Ahenu stressed that for the industry to enhance productivity, sustainability and global competitiveness Cashew Watch Ghana had john force with Star Ghana Foundation, its funding partner to present some policy recommendations for onward incorporation into the 2024 political manifestoes for future implementation regarding the development of the cashew sector.He mentioned that in a move to unlock the full potential of Ghana's cashew industry (CWG) had launched a comprehensive four-year plan in partnership with Star Ghana Foundation to boost productivity, sustainability, and global competitiveness, ensuring fair prices and sustainable practices throughout the supply chain.It would focus on increasing efficiency and productivity, improving quality and consistency, enhancing market access and exports, supporting smallholder farmers and processors and promoting sustainable practices and environmental stewardship.Mr Ahenu said the cashew industr y had already shown significant economic potential, earning Ghana $128.70 million in the first quarter of 2021 according to the Bank of Ghana data, saying with the new plan in place, industry experts predict a substantial increase in revenue and economic growth.He mentioned that funds had been allocated for research institutions and universities to conduct research on cashew cultivation, processing, and marketing as well as strengthen agricultural extension services to provide farmers with training on best practices, pest and disease management, and efficient use of inputs, adding that farmers would receive training and resources, yields increased, and improved quality.Mr. Ahenu said the plan marked a significant milestone in CWG efforts to transform the cashew industry and expressed confidence that with the support of partners and stakeholders, the unlock full potential of the cashew industry would drive economic growth and prosperity for all.He said Ghana's cashew industry was poised for transformatio n, and the potential for growth and prosperity was limitless, driving economic growth and development in the country.Source: Ghana News Agency