Audio By Carbonatix
Cashew farmers are lamenting their losses this season after being forced to sell produce at 25% below the standard rate because of the Coronavirus pandemic.
The price of the commodity has fallen worldwide as a result of Covid-19 related restrictions, and the farmers are taking a hit. Produce that should sell at ¢8 was sold for ¢2.5 in some areas.
Joy News’ Agricultural, Environment and Technology Desk found that the spread of the Covid-19 pandemic has forced the world’s largest importers of raw cashew nuts, including India, China and Vietnam, to cut down their orders as processing factories close due to lockdowns.
This has caused a glut, forcing the international market price of the commodity to slump by 63 percent between January 2020 and May 2020.
Secretary of the Ghana National Cashew Farmers Association, Clement Anane says they are struggling to recoup their investment as a result.
President of the Association of Cashew Processors Ghana Ed-Malvin Nii Ayibonte Smith says more needs to be done to rationalize the pricing of cashew for the benefit of all players in the sector.
Latest Stories
-
Togbe Afede XIV lauds government’s $10bn ‘big push’ programme for boosting farm produce transport
25 minutes -
FDA urges consumers to prioritise safety when purchasing products during festive season
29 minutes -
President Mahama calls for single-digit interest rates on agricultural loans
43 minutes -
President Mahama urges Ghanaians in formal jobs to take up farming
52 minutes -
Farming interventions paying off, lifting incomes and food security, says Agric minister
1 hour -
Gov’t pledges science-backed interventions in agriculture, says Agric minister
1 hour -
Ghana unveils $3.4bn plan to accelerate national clean energy transition
1 hour -
Interior minister urges security agencies to maximise use of new NSB regional command in Ho
1 hour -
Photos: Ghana celebrates 41st National Farmers’ Day
2 hours -
2025 Farmer’s Day: Farmers demand a 2% interest rate on loans to boost farming activities
2 hours -
Chamber of Aquaculture Ghana calls for strong public-private partnerships to unlock finance and transform the sector
2 hours -
Lions celebrate International Volunteer Day with over decades of service and impact
2 hours -
3 dead, dozens injured in Mampong Abuontem head-on collision
2 hours -
MoFFA shuts down several Eastern Region mortuaries over poor sanitation, non-compliance
3 hours -
Domestic violence case: John Odartey Lamptey remanded over alleged brutal assault on wife
3 hours