Vice President Mahamudu Bawumia has announced the 2024 minimum producer price of shea nuts.
The minimum producer price for a kilogramme of shea nuts has been set at GH₵4.74 for the 2024 shea season.
The announcement was in a speech read on behalf of the Vice President by Mr. Mohammed Hardi Tuferu, a Deputy Minister for Food and Agriculture at the opening of a three-day World Shea Expo in Tamale.
The quality standard for the minimum producer price included moisture content of less than or equal to 10 per cent, free fatty acid of less than or equal to 8% and impurity-free kernels.
Producers who meet these criteria could secure the minimum price, while those achieving higher standards may negotiate better rates.
The World Shea Expo is being organised by the Savannah Golden Tree Limited in collaboration with Global Shea Alliance, Ghana Cocoa Board and Ghana Export Promotion Authority (GEPA).
Other partners are the University for Development Studies, EXIM Bank, International Labour Organisation and the Northern Regional Coordinating Council.
The three-day expo aims to highlight innovations in the shea industry and create opportunities for producers to market their products.
It is on the theme: “Nurturing Growth, Empowering Communities.”
About 60 exhibitors and financiers, would showcase their products at wholesale prices.
Vice President Bawumia said the shea industry was a potential economic empowerment for the country, where women were at the heart of production.
He said in exploring the shea industry, the country must embrace new technologies, sustainable practices and market access strategies to ensure that communities benefited.
He said: “We must invest in research and development to enhance the quality of our shea products and explore new markets.”
He advocated inclusive practices that fostered gender equality, emphasising the importance of creating initiatives for women’s cooperatives and providing them with the essential tools and training to succeed.
Dr Bawumia said the government recognised the prominence of the shea industry in promoting economic growth and improving livelihoods, adding it was committed to promoting sustainable shea cultivation practices.
He said the government was promoting collaboration among agencies, private sector stakeholders and international partners to create a cohesive ecosystem that supported the growth of the industry.
Alhaji Shani Alhassan Saibu, Northern Regional Minister said the shea tree, a symbol of resilience and nourishment, had supported the livelihoods of many families in the region as it significantly contributed to the socio-economic progress of the nation.
He said that without the resilience of the shea tree, it might have been extinct by now, given the numerous threats to its sustainability.
He said the expo was an opportunity to share knowledge and forge partnerships that would help overcome challenges of the shea industry and build a more sustainable future.
Mr. Imoro Issifu Alhassan, Northern Regional Chief Farmer for the Ghana Cocoa, Coffee and Shea Nut Farmers Association (COCOSHE), said the event was to ensure exposure for the shea industry, with the belief that it could assist cocoa to boost the earnings of Ghana.
While speaking on behalf of the Executive Director of Savannah Golden Tree Limited, Mr Alhassan said women in the shea industry were challenged with low prices despite the tedious nature of picking and processing the nuts.
He said the shea industry anticipated the formulation of policies that would prohibit felling of shea trees.
Source: GNA
