International sheanut market almost collapsed – Minister
Mr. Kwesi Ahwoi, Minister of Food and Agriculture, on Wednesday said that currently, the international
sheanut market had almost collapsed leading to low demand for the produce.
He said this has also resulted in the inability of the Produce Buying Company (PBC) and the Cocoa Coffee and Sheanut Farmers Association to export stockpile of the produce in the country.
Mr. Ahwoi was answering a question tabled by Mr. Joseph Akati Saaka, Member of Parliament for Bole/Bamboi on steps the sector Ministry was taking to sell stockpile of sheanuts in the Upper West, Upper East and Northern Regions (three northern regions) since 2008.
He said that COCOBOD has secured funds on behalf of PBC for the construction of a factory in the Northern part of the country to process sheanuts for export.
Mr. Ahwoi said that stakeholders in the sheanut industry met in Accra last year and finalized a sheanut development strategy.
He said that said this would help create internal and external market for sheanut to make the industry commercially viable.
Mr. Ahwoi said records from the Ghana Export Promotion Council indicate that annual exports of sheanut stood at 32,000 metric tonnes.
He said that USAID in 2004 also estimated that Ghana had a potential production of 200,000 metric tonnes and an actual collection of 130,000 metric tonnes per annum of sheanut.
Mr. Ahwoi explained that an increase in the collection of sheanut to 100,000 metric tonnes per annum would considerably alleviate poverty in the three northern regions.
He said that the marketing of sheanut and coffee was privatized in 1992/1993 and since then internal and external marketing of sheanuts have been undertaken by licensed private companies.
Mr. Ahwoi said that COCOBOD was no longer involved in direct purchase or exports of sheanut but maintains a regulatory role by vetting and approving applications of private buyers.
He said that the licensed private companies were required to submit to COCOBOD periodic reports on their sheanut marketing operations.
Source: GNA