The Tree Crop Development Authority (TCDA) has hinted at government's readiness to announce the base price for cashew in December.

According to the CEO of the Authority, William Agyepong Quaittoo, the pricing of cashew, which is expected to bring relief, and end the mistrust between the producers and traders, is due to the completion of the modalities, including the definition of raw cashew nuts.

Mr Quaittoo announced this in Sunyani during the Cashew Traders and Exporters Association of Ghana's annual Conference and inauguration ceremony.

The conference, which discussed matters of concern along the cashew value chain, including the trading of raw cashew nuts without the appropriate quality control practices and its effect on quality and price, was under the theme "Building a Sustainable Cashew Value Chain: The Role of Traders and Exporters". 

William Agyepong Quaittoo said through the benevolence of the Ministry of Agriculture and GIZ, the definition and standardization of cashew nuts and cashew kennel by the Ghana Standards Authority were sponsored.

"So a farmer can only package nuts for sale when it has a QR of 46, a nut count of 190, and a moisture content of less than 10%.", he said, adding that the determinations, including other parameters, were done by a team of experts.

"It is on the table of the minister for food and Agriculture, and in December, we will fix a date and announce the price for you", he assured the traders and exporters.

The formula, he said, means prices would be affected by other factors, including the exchange rate.

The TCDA has a core mandate to streamline the sector with policies and regulations to develop the six tree crops, including cashew.

Mr Agyepong Quaittoo, the CEO of TCDA, further said other regulations to support the central act of the authority have been developed, pending parliament's approval, further to streamline the activities of stakeholders within the cashew industry.

He also said the digitization of the cashew traders and exporters would start next year. 

The President of the Cashew Traders and Exporters Association of Ghana (CTEAG), Alex Owusu Adjei, expressed their satisfaction with the model to address the rifts between producers and traders.

He, however, said the high-lending rate from financial institutions is a barrier to venture into cashew processing to add value to the over 16,000 metric tons of raw cashew nuts produced.

"If you are in a country where you have to pay 20% interest on loans to keep a factory running, it is not possible. Utility prices are very high, etc., and to combine that with the loan interest means going into processing will not be forthcoming in Ghana", he explained.

Mr Owusu Adjei, therefore, called on the government to walk the talk and impress on financial institutions such as Exim Bank, GCB Bank, and ADB to support them with a lower cost of finance, as the case is in Ivory Coast.

He noted such support would help them put up industries to process the cashew nuts and create employment for the youths.

On his part, the Deputy Minister of Trade and Industry, Michael Okyere-Baafi, said the ministry is embarking on support activities for the industry under the One District, One Factory initiative to enhance value addition to the crop. 

He also said the ministry would continue to collaborate with other state institutions to develop initiatives and programs to improve the productive capacities of all value chain actors and the processing of most cashew nuts locally to create additional jobs and increase revenue.

District executives of the CTEAG were inaugurated to steer the affairs of the Association.