The total export revenue realized from cashew in 2016 was US$244,500,000, making the commodity the leading, non-traditional, crop export revenue generator for Ghana, according to the President of the Ghana Cashew Industry Association, Winfred Osei Owusu.
He said the quantity of raw cashew nuts exported from the country in 2016 was 163,000 metric tonnes, which positions Ghana as one of the leading exporters of the commodity to the international market.
“There is an over two million metric tonne demand gap on the international market. Ghana can take advantage of this huge opportunity once we have the potential to do so. Currently, cashew trades better than cocoa on the international market. In the last 5-6 years, the price of cashew has increased by 700% and it is still rising,” he indicated.
He said cashews are selling (FOB) on the international market at US$2,200 per metric tonne, as against cocoa, which is pegged at US$2,100 for the same quantity. “Consistently, cashew has, over the past six years, seen prices increase worldwide, so the trend shows that it is a crop that can generate more revenue when giving the necessary support.”