When most people talk of cashews, they mean the cashew nut. The cashew nut is the primary reason cashews are grown. It has a kidney shape and is situated at the base of the cashew apple.
The nut has a mellow, creamy flavor that is slightly sweet and nutty. The cashew’s structure, with the nut snuggled in the bottom of the cashew apple and covered by a hard shell, is what distinguishes it from other nuts.
The cashew nut Cashew, also known as ‘kasoy or balubad in Tagalog or Balogo in Ilokano’, is one of the most important nut crops in the Philippines. Many farmers are interested in the nut because it commands a good price and is in high demand in both local and international markets.
The Philippines has good aggro-climatic conditions for cashew growth, and the tree is grown in many different locations around the country.
Philippines Cashew Nuts
Growing cashew nuts in the Philippines dates back to the early 17th century when the Portuguese introduced the cashew tree to the country.
The cashew tree adapted quickly to the Philippine climate and soil, becoming a common crop among Philippine farmers. Initially, cashew nuts were farmed primarily for internal consumption, but by the late 19th century, the Philippines had become a significant exporter of cashew nuts.
The cashew nut industry expanded throughout the 20th century, and the Philippines is now one of the world’s largest exporters of cashew nuts.
The cashew nut industry has played an important role in the Philippine economy by providing jobs and income to millions of people. It has also helped to boost the Philippine economy by generating export revenue.
Cashew Nuts Price in the Philippines
In 2021, the Philippines’s cashew nut exports were valued at just above 300,000 US Dollars. This was a slight increase over the previous year’s figure.
The sharpest climb was between 2012 and 2013 when the export value increased from 4,000 US dollars to just above 200,000 US dollars.
Here are the total values in the export of cashew nuts from the Philippines between 2012 and 2021.
Price of Cashew Nuts per kg in Philippines
A kilogram of raw cashew nuts in the Philippines costs between ₱300 to ₱400. The specific price depends on the quality of the cashew nuts, the brand, and the store.
It is crucial to note that cashew nut prices can fluctuate based on market conditions. If you want to get the best deal on cashew nuts, compare prices from different shops’ sales and promotions.
The amount of cashew nuts produced and harvested can have an impact on prices. Weather conditions, crop output, and farming practices can all have an impact on the overall availability of cashew nuts, which in turn can have an impact on prices.
Cashew nuts that have undergone processing, such as roasting, flavoring, and packaging are also more expensive than raw or unprocessed cashew nuts.
Philippines Cashew Price
International trade dynamics, including export regulations, and currency exchange rates, also affect the price of cashew nuts in the Philippines.
These changes influence the cost of exporting cashew nuts, which then impact local prices. Cashew farmers in the Philippines are improving post-harvest practices that can help farmers boost the quality and value of their cashew nuts.
This includes proper harvesting processes, effective drying methods, and appropriate storing to minimize spoiling and retain nut quality.
Farmers prioritize obtaining high-quality cashew seedlings or grafts to ensure healthy and fruitful trees.
They use improved agricultural inputs, such as fertilizers and pest control measures to contribute to better yields and quality.
With all of these in place, the Philippines is improving its cashew value chain, and the industry has a bright future.