Deputy Minister for Food and Agriculture (MOFA) Ahmed Yakubu Alhassan says a vibrant cashew industry can generate between US$300 million to US$400 million in foreign exchange earnings annually for the country, aside from the revenue that can be made through local consumption.

Speaking to B&FT in an interview on the side-lines of the media launch of the World Cashew Festival and Expo in Accra, he said cashew, which is a leading non-traditional export commodity, has huge potential to add to national revenue if needed attention is given to the sector.

In this regard, Mr. Alhassan said the Ministry is relentless in its efforts to assist cashew farmers to boost production.

“From early 2000 to 2010, the Ministry of Food and Agriculture (MOFA) has invested several loan facilities worth millions of dollars into mobilising the production base for cashew, mainly for the intended local and international markets.

“I must admit this was a proactive position that the Ministry took because the crop was relatively unknown at that time. In the early 1990s, earnings in cashew production compared to other non-traditional crops were small; but today, cashew has come to the front mainly because of such efforts,” he said.

Mr. Alhassan said investing in the cashew industry will not only enhance production and promote technology, but also assist cashew farmers to leverage available technology to boost productivity.

The Deputy Minister said MOFA has created a cashew development desk manned by a senior director to respond to challenges and needs facing cashew farmers.

He averred that the desk however receives few complaints, which is an indication that value chain activities in the cashew industry “seem to be working well”.

He said the Ministry will continue to provide periodic inspection and extension services, encourage farmers to leverage available technology, and also build a strong collaboration with the farmers in order to ascertain and provide solutions to the various significant operational challenges.

The 2013 World Cashew Festival is being organised by the African Cashew Alliance, and will offer a unique platform for industry stakeholders to exchange practices and learn from experts from around the world.

This year the Cashew Festival’s theme will be “Value Chain and Gains”, focusing on the potential to leverage profit in each sector of the cashew industry and in new markets. On the regional front, cashew production has been on a positive trend over the last five years. Africa is currently the largest producer of cashew globally, producing about 1.1 million metric tonnes of cashew per year.

Ghana, Côte d’Ivoire, Benin, Nigeria and Guinea Bissau are the major countries driving cashew production in West Africa.