Kola Nut Market Overview in the Philippines
In value terms, kola nut production rose to $ in estimated in export prices. In general, the total production indicated a prominent increase from 2012 to : its value increased at an average annual rate of +% over the last eight years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production increased by +% against 2015 indices. The pace of growth was the most pronounced in 2019 with an increase of % year-to-year. Kola nut production peaked in and is expected to retain growth in years to come.
In , the average yield of kola nuts in the Philippines totaled kg per ha, therefore, remained relatively stable against 2019. Over the period under review, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In , the harvested area of kola nuts in the Philippines stood at ha, approximately mirroring the previous year's figure. In general, the harvested area recorded a relatively flat trend pattern.
The revenue of the kola nut market in the Philippines amounted to $ in , increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of % year-to-year. Over the period under review, the market reached the peak level in and is expected to retain growth in the immediate term.