Ghana projected to earn US$2 billion annually from six tree crops

The acting Chief Executive of the Tree Crop Development Authority, William Quaitoo, has estimated that Ghana has the potential to earn US$ 2 billion worth of revenue annually from six identified tree crops over the next 10 years.

The tree crops are, cashew, shea, mango, oil palm, coconut and rubber, all have the potential to generate substantial revenue in foreign exchange earnings.

In an interaction with Joy Business at a workshop organised by the Authority, William Quaitoo pointed “Cocoa brings in about US$2 billion annually and President Nana Addo Dankwa Akufo-Addo has charged TCDA to develop the sectors to earn same if not more in 10 years due to huge demand on the international market”.

Meanwhile, the TDCA and its partners are currently looking at a number of technical proposals from key stakeholders in the cash crop value chain as part of efforts to regulate the sector.

Quaitoo told journalists the proposed technical regulation will first head to Cabinet and then later on to Parliament by the end of 2021.

When passed and formalised, “it will become key for all actors involved in the production of the six cash crops with a primary focus to regulate and develop the six-tree crops as well as curb the incidences of banned products and produce on the international trading market as a result of violations”.