Harvested Marketable Products: Fruits (Nutmeg Powder and Nutmeg Oil)
Uses: Nutmeg is used in Europe mainly as an ingredient in spice mixtures, marinades, sauces, ready-to-eat foods and bakery products. Nutmeg is also sold as single spices in food retail and food service channels, both whole and crushed while extracted essential oil is used in aromatherapy and perfumery.
Common Name: Nutmeg (Duguan)
Binomial Name: Myristica fragrans
Minimum Borrowing Amount: Php 1,000,000.00 with 200 Trees
Lock-in Period: 10years
Annual Interest Rate: 18.00%
Income from Harvest: 40% on annual harvest starting on 7th year.
Nutmeg is traditionally used in several foods, ranging from gingerbread to sausages. The demand for nutmeg is partly due to the popularity of international cuisines. Germany is the largest importer of nutmeg because of its strong processed meat and bakery industry. The need for a sustainable supply chain is shaping the nutmeg trade.
Nutmeg is the seed of the nutmeg tree (Myristica fragrans). It is also commonly grown on several Caribbean islands, India, Sri Lanka and Malaysia. Nutmeg trees yield fruit around seven to nine years after planting, providing they are grown in the right climate and soil. This means they require a significant time investment. After harvesting the fruit, the seeds are left to dry, then hulled and graded. After that, the seeds can be exported whole or they ground and sold as powder. The nutmeg tree produces fruits with egg-shaped seeds that are covered in a red layer called ‘mace’. Mace is also a spice, but it has a slightly more delicate flavour than nutmeg.