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
-
Zack Orji underwent two brain surgeries; he is fine – Actors Guild of Nigeria President
20 mins -
Another accident leaves 5 police officers injured in Nsawam
23 mins -
I’ve really worked well as Veep; vote for me as President – Bawumia to traders
30 mins -
There’s something mysteriously amiss somewhere about ongoing ‘dumsor’ – Gabby Otchere-Darko
44 mins -
South Africa: Team Western Cape wins National Primary School Track and Field Championships
58 mins -
Chale Wote Street Art Festival: A call for artists ahead of 2024 edition
3 hours -
Floods: We’re exposed but my team and I are ‘running’ to catch up – Oppong Nkrumah
3 hours -
5 traits of sweet, committed men that may seem like red flags at first
4 hours -
We met on Twitter and our first date was a week-long road trip
4 hours -
The biggest mistake people make when meeting someone in person after talking online
5 hours -
I traveled 500 miles for a first date
5 hours -
My cousin saved my life and she never knew
5 hours -
Top UN court orders Israel to allow food and medical aid into Gaza
5 hours -
Fallen ‘Crypto King’ Sam Bankman-Fried gets 25 years for fraud
5 hours -
The architecture we have used to tackle housing deficit has not been robust enough – Oppong Nkrumah
5 hours