Business News of Friday, 20 May 2016
Source: Tv3network.com
Cashews
The Ministry of Trade and Industry says it is collaborating with the private sector to roll out a programme to boost cashew production in the country.
A director at the Trade Department of the Ministry, Kwesi Ofori Antwi, disclosed on 3FM’s Business Weekly programme that the move is part of government’s initiatives to make the cashew industry viable in Ghana and West Africa.
“The ministry has been engaging with some stakeholders,” Mr Ofori Antwi said, “from all sectors, based on a proposal we received from the cashew farmers association.”
He said the Ministry is putting in place an inventory system for cashew processors.
“We are setting up a board to regulate pricing and even drafting a cashew policy for the industry. We believe this will promote sanity and enhance productivity,” Mr. Antwi hinted.
He outlined some of the steps that have been taken to ensure the smooth run of the project.
“What the farmers were not happy with was the fluctuations in the pricing and we have engaged them on that.
“The minister was in the Brong Ahafo Region and we are in serious engagements. We have a market for this produce because the farmers produce 70,000 raw cashew nuts and the market demand is 68,000. So, there is market for it,” he emphasised.
The Trade Ministry earlier in the year issued a directive to ban the export of the cash crop, sparking a lot of outcry from farmers and other stakeholders.