The biomass sector in Ghana is very important for supplying essential food and non-food biomass-based resources to many people for a wide range of uses. There is, however, limited deliberation on these culturally important biomass-based resources at a community level in the country. The aims of this study are three-fold, namely to (i) document various kinds of biomass-based resources and their cultural importance to local actors, (ii) examine socio-demographic factors influencing local actors’ knowledge base on biomass-based resources, and (iii) identify value webs, challenges, and future actions for sustainable use of biomass-based resources. Individual interviews were thus performed using structured questionnaires to cover 180 local actors (consisting of 120 smallholder farmers and 60 local commercial intermediaries) across six rural communities in the Northern and Upper East regions of Ghana. Cereals, e.g., maize (Zea mays), Guinea corn (Sorghum bicolor), rice (Oryza sativa), millet (Pennisetum glaucum), and legumes, e.g., groundnuts (Arachis hypogaea) are cultivated as major crops in the study areas and also considered by local actors as the most culturally important food crop species, as well as minor crops like tubers and vegetables. Ethnicity and residential status of local actors were found to significantly influence local knowledge on biomass-based resources. The value webs of selected food biomass-based resources are not elaborately developed and still remained simple and traditional in nature, since no cascading uses of by-products were identified. Several challenges and the future actions for managing locally produced biomass-based resources are addressed. The sustainable utilization of these biomass-based resources and value addition to their products are required to help increase family incomes and improve their livelihoods.