The growing of cashew nuts in Guinea goes back many years. The cashew nut species originated in Latin America and northeast Brazil when the Portuguese began exporting it in the early 1550s, quickly spreading to India by the 1560s. It then moved from India to Southeast Asia and then to Africa.
Guinea’s favorable climate and suitable soil conditions proved ideal for cashew nut cultivation, resulting in the development of cashew farms throughout the country.
Cashew nuts were originally planted for domestic consumption, but local farmers saw the cashew tree’s potential and began farming it for its nuts, and it quickly became a major export product.
Guinea now grows approximately 5,000 tons of raw cashew nuts each year with production focused on Kankan and Mandiana regions. It is one of Africa’s main cashew nut producers, producing an average of 200,000 tonnes per year.
Guinea Cashew Nuts
Farmers in Guinea have embraced cashew farming methods such as proper soil preparation, planting higher quality cashew cultivars, and using effective crop management techniques. This way, they help improve cashew nut yield and quality.
The country’s cashew nuts are known for their excellent quality and unique taste, and as a result, Guinea has emerged as a vital player in the worldwide cashew market, sending substantial quantities of cashew nuts to countries all over the world.
Farmers in Guinea have also been able to diversify their agricultural activities thanks to the growing of cashew nuts. This reduces the risks associated with relying primarily on cashew nuts by cultivating them alongside other crops and provides stability and durability to their farming activities.
To help grow the cashew nut sector in Guinea and improve their incomes and lifestyles, cashew nut farmers in Guinea are also taking part in cashew cultivation and processing training programs to help them broaden their skills and expertise in cashew nut growing.
Cashew Nuts Price in Guinea
In 2022, Guinea’s cashew nut exports were valued at just above 99 million US Dollars. This was a very high increase over the previous year’s figure of over 53 million USD.
The sharpest climb was between 2013 and 2014 when the export value increased from approximately 26 million US dollars to over 61 million US dollars.
Here are the total values in the export of cashew nuts from Guinea between 2013 and 2022.
Price of Cashew Nuts per kg in Guinea
A kilo of fresh cashew nuts costs roughly $2.50 in Guinea. However, prices can vary depending on the quality of the nuts, the time of year, and the region.
Cashew nut prices in Guinea, fluctuate due to seasonal variations in supply and demand. Prices are highest during the cashew harvesting season when the supply of raw cashew nuts is plentiful.
Guinea exports more than half of its cashew nut production to overseas markets, and global demand for cashew nuts has been steadily rising due to their nutritional value, and popularity as a snack. This ongoing global demand has enabled Guinean cashew farmers to benefit from rising prices.
Guinea Cashew Price
The prices of cashew nuts have a considerable impact on farmer income in Guinea. When prices are high, farmers earn a good living from growing cashew nuts. However, when prices are low, farmers struggle to make a profit.
This also applies to the country’s economy; when the price of cashew nuts is high, the economy benefits from greater exports and government revenue, however, when the price of cashew nuts is low, the economy suffers. This is because farmers have less money to spend on products and services, which can contribute to a drop in economic activity.
To assist with this, the government establishes a minimum price for cashew nuts and supports farmers through subsidies and training programs.
The government wants to make sure that farmers get a fair price for their nuts and that the cashew nut business grows. A win-win situation.