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25.03.2009 Business & Finance

Cashew farmers complain about price reduction

By GNA

Cashew farmers in the Wenchi Municipality have expressed worry about the reduction in the market price of cashew-nut in the country.

They stated that the previous price of cashew-nut at the beginning of this season (January-July) was reasonable but the reduction three weeks ago has affected their incomes drastically.

The meeting aimed at discussing the market price of the commodity was attended by representatives of Wenchi Municipality Cashew Farmers Associations from the Wenchi, Awisa, Amponsakrom and Abotereye.

They noted that the price of cashew at the beginning of this season was GP40 per kilogramme, which has now been reduced to GP35.

Mr. Jonas Kwame Mensah, Chairman of the Awisa branch, said the reduction in the price had made it difficult for them to pay their labourers and maintain their farms properly.

He said cashew plantations also needed much attention as cocoa because it involved fertilizing and spraying to maintain them in good condition, stressing that those activities demanded “huge amount of capital”.

Lack of support from the government and the low income generated as proceeds at the end of each season were the major contributory factors for their inability to increase their annual yield, Mr. Mensah added.

He, therefore, appealed to the government and other appropriate authorities to provide better commodity price for cashew and make credit and loan facilities accessible to farmers.

GNA

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