CEO of the Ghana Export Promotion Authority (GEPA) Gifty Klenam has said, the Ministry of Trade and Industry has finally drafted a bill – now awaiting cabinet approval for onward passage by Parliament – for the introduction of an export levy on raw cashew nuts (RCN).
The proposed Cashew Export Levy bill is expected to discourage excessive exports of RCN and promote value addition, aimed at reviving defunct cashew processing factories.
Only two out of about 13 cashew processing plants in the country are in business; the rest have shut down, largely because of unhealthy competition from exporters of the RCN.
The bill will also give birth to the much-awaited Cashew Marketing Board. The Board is expected to regulate all activities in the cashew industry. Many industry watchers and players are of the firm belief that establishment of a Cashew Marketing Board will be the catalyst to sanitising the industry and making the commodity a leading agricultural foreign income earner.
Ms. Klenam told media during a field visit to some cashew grafted seedlings nursery sites in the Brong Ahafo Region, “I’m sure the bill will be passed into law before end of the year. But until it comes into force for the Board to be constituted, GEPA will do everything within its power to sustain the cashew industry.
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