Cashew traders and exporters in Ghana are sounding the alarm over the growing influence of unauthorized individuals in the local market, accusing them of destabilizing the industry.
The traders, under the umbrella of the Cashew Traders and Exporters Association, claim that these “foreigners” are manipulating the cashew market by purchasing crops at inflated prices, potentially bringing the local cashew industry to the brink of collapse.
Mr. Kwabena Owusu, the National Organizer of the association, addressed the issue, explaining that these individuals are presenting themselves as exporters while, in reality, they are involved in local trading. According to the traders, these unauthorized buyers are purchasing cashews at prices as high as Ghc20 and Ghc25 per kilogram, well above the official price of Ghc15.00 set by the tree crop authorities.
“This practice is severely disrupting the market. These foreigners are buying unripe cashews at inflated prices, and it is causing genuine traders to lose business,” Owusu said. He emphasized that this behavior is not only undermining the established pricing system but is also damaging the integrity of the cashew crop by encouraging the purchase of unripe fruit.
The traders fear that the long-term impact of these actions could be disastrous for both the local cashew business and the farmers who depend on it. The practice is seen as unsustainable and damaging, with the traders warning that if the situation continues, it could destabilize the market to the point where cashew buying businesses will collapse, leaving farmers without a market for their crops.
“We are appealing to the government to step in before things escalate,” Owusu urged. “If this continues, we may not have a viable cashew market in the future. These foreign buyers will leave, and our farmers will be at a loss.”
The traders are calling on the government, led by President John Dramani Mahama, to take immediate action to address what they describe as a “canker” threatening their livelihoods. They are asking the government to investigate the situation and implement measures to ensure that trade practices remain fair and sustainable, in line with the regulations set by the tree crop authorities.
Without swift intervention, the traders worry that the integrity of the local cashew industry could be irreparably harmed, leading to long-term consequences for both traders and farmers alike.