COVID-19: Fresh report shows export of cashew has fallen 30%; Ghana records growth
- Production of cashew nuts in West Africa has fallen following the outbreak of coronavirus
- However, in Ghana, it is expected that production would reach 140,000 tonnes though prices for farmers fell over 56% to GHC3.50 ($0.6140) per kg in April 2020
- The outbreak of the coronavirus has clashed with cashew nut's marketing season and subsequently affected processing and export
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The outbreak of the coronavirus has led to a slump in production of cashew nuts in West Africa, a report has revealed.
YEN.com.gh understands that farmers in Cote d'Ivoire say some crops have gone bad and prices are currently at an all-time low.
Information available shows that the export of the crop is currently at 30% although sales have picked up in Ghana and output is on track to reach the target.
READ ALSO: COVID-19: Farmers 'cry' to gov't over storage systems and financial challenges
A Reuters report shows that production in Ghana is expected to reach the forecast of 140,000 tonnes but the prices for farmers fell over 56% to 3.5 Ghanaian cedis ($0.6140) per kg in April 2020.
The timing of the outbreak of COVID-19 has reportedly coincided with cashew’s marketing season in West Africa.
This has led to a state of uncertainty, given that over 55% of the product could have been harvested, dried and shipped in its raw form to Asian processors before being sold to consumers worldwide.
Prices have reportedly tumbled after a slowdown in processing as well as border closures which stopped major buyers flying to West Africa from Vietnam and India.
The key to market recovery, YEN.com.gh has learned, rests with a long-term plan for the sector.
YEN.com.gh earlier reported that Ghanaian cashew farmers have expressed concerns about the fall in the price of the product.
Information available shows that it has reduced from an initial GHC8 per kilo to about GHC2 or GHC3 for the same quantity.
The local farmers revealed that it is because they are no longer able to export to Asia due to the outbreak of the coronavirus.
READ ALSO: Farmers and others raise alarm over food security challenges after COVID-19
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Source: YEN.com.gh
