from left to right: Bryanne Hackman, GCX Strategy, Policy & Partnership Officer, Godfred Nyamekye GCX Value Chain & Product Development Manager, Gabriel Aryeetey GCX Warehouse & Quality Control Manager and Abena Safoa Osei – GQSP Chief Technical Advisor and Coordinator
The Ghana Commodity Exchange in collaboration with UNIDO has been working together as GCX prepares to introduce the trading of Cashew onto its electronic platform.
UNIDO through the Global Quality and Standards Programme (GQSP) funded by the Swiss State Secretariat for Economic Affairs (SECO) has supported the Ghana Commodity Exchange by providing capacity building support in preparation for GCX Cashew trade namely sponsorship for the training of 20 Warehouse Operators and key staff to understand and interpret national standards and grade cashew; sponsorship of stakeholder consultation to develop a trading contract; and sponsorship of the training of market actors including GCX members in the cashew value chain and grading.
On the 1st of June, 2021, UNIDO funded by the State Secretariat for Economic Affairs handed over some equipment to GCX to aid with the grading of Cashew. The equipment includes 2 cashew nut cutters, 2 moisture meters and 2 analytical scales.
Abena Safoa Osei, The Chief Technical Advisor and Coordinator of the GQSP project had this to say “The Global Quality and Standards Programme, is focused on enhancing the competitiveness of cashew and oil palm exports from Ghana. To this end, the project is committed to strengthening the National Quality Infrastructure and trade related agencies in the value chains. With this support, the GQSP is working with the GCX to enhance the quality of raw cashew nuts traded in Ghana as well as those exported from Ghana”
“We want to express gratitude to UNIDO/SECO for this generous offer. As quality is of prime importance to GCX, this equipment will go a long way to help GCX meet its mandate of ensuring that raw cashew nut traded through the Exchange meets international standards. This will aid in promoting cashew trade in Ghana and enhance revenue generated through export of raw cashew nut.” Said the CEO of GCX, Mrs. Tucci Ivowi.
The introduction of Cashew onto the electronic trading platform of GCX will undeniably reap many benefits for Ghana’s cashew value chain as well as market actors involved in the cashew sector in Ghana. In trading through GCX, cashew value chain actors will have an advantage of the availability of a transparent electronic trading platform, a significant reduction in post-harvest losses, access to warehousing receipt system, linking of farmers and traders to financial institutions, and provision of a steady supply platform for both exporters and processors of cashew.