Cashew Traders Lament Over Influx Of Unauthorized Foreign Buyers

In order to address what they see as an increasing danger to their sector, the Ghanaian Cashew Traders and Exporters Association is pleading with the government for immediate action. They contend that by buying cashew crops at exorbitant prices, unlicensed overseas purchasers are sabotaging the market.
The Association claims that these people are purchasing cashews at prices far higher than the official rates while posing as exporters, which undermines local trade norms and puts the cashew industry’s long-term viability in jeopardy. In an interview, the Cashew Traders and Exporters Association’s National Organizer, Mr. Kwabena Owusu, emphasized the problem.
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He explained that foreign buyers are paying as much as GHS20 to GHS25 per kilogram for cashews, far exceeding the official rate of GHS15 per kilogram 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, adding that the practice undermines the integrity of the industry. He explained that unripe cashews do not meet quality standards and could harm Ghana’s reputation in international markets. The Association is appealing to the government, under President John Dramani Mahama, to take immediate action to stop these activities. They warn that unchecked participation of these foreign buyers could lead to the collapse of the local cashew market, causing financial devastation for farmers and legitimate traders.
“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 for a government investigation and the enforcement of regulations to ensure fair and sustainable trade within the cashew industry. They believe that stricter oversight and adherence to pricing guidelines will protect local businesses and farmers from exploitation.
The Association also expressed concerns about the broader impact of these activities, stressing the need to preserve the industry’s sustainability and reputation both locally and internationally. “Without immediate action, Ghana risks losing one of its most promising agricultural sectors,” Mr. Owusu concluded.