Cambodia Explores Cashew Nut Markets
With the coordination from the Ministry of Commerce, the association has sought markets such as Arab countries and Korea through exhibitions this year. Photo: Uon Silot
- By Chhum Chantha
- October 18, 2023 5:50 PM
PHNOM PENH – The Cambodian Cashew Nut Association is expanding potential sales of its products to international markets through participation in exhibitions and business meetings.
It aims to find new investment partners in markets besides Vietnam to set up processing plants in Cambodia.
Association president Uon Silot said many countries did not realize that Cambodia is one of the major producers of cashew nuts.
“The association has collected data from stakeholders to present to business people and found that they had changed their views positively on Cambodian cashew nuts in the last five years,” Silot said.
The association had also taken part in many exhibitions and business meetings to attract foreign investors to set up processing plants in Cambodia.
With the coordination from the Ministry of Commerce, the association has sought markets such as Arab countries and Korea through exhibitions this year.
It will also take part in exhibitions and business meetings in the US in November to find new markets and especially to seek investment in processing in Cambodia.
Almost 95% of Cambodia’s crop is processed in Vietnam. Local processing is vital for the income of farmers and laborers.
Through the promotion of cashew nuts, Cambodia has gained more attention and recognition from international investors.
Two companies from China, one from Singapore and one from Korea have visited to explore Cambodia's investment climate.
As a result, companies from Singapore and Korea with a capacity of processing 7,000 tonnes of cashew nuts per year show investment interest.
In the first nine months of 2023, Cambodia produced about 639,000 tonnes of raw cashew nuts, of which 613,000 tonnes, worth $829 million, were exported to Vietnam,
Presently, Cambodia has 700,000 hectares of cashew plantations, compared with 800,000 hectares in 2021.
Originally written in Khmer for ThmeyThmey, this story was translated by Rin Ousa for Cambodianess.
