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PHNOM PENH – Cashew nuts have a high potential for exports to the European Union market said EU Delegation in Cambodia Head of Cooperation Bryan Fornari, who pledges to connect Cambodian cashew producers and European consumers.
Being one of the region’s biggest cashew producers, Cambodia’s production deserves more recognition for its quality and increased investments in the sector, Fornari said on Dec. 3, on the closing day of a four-day media tour aimed at exposing the country’s cashew production chain.
The tour was supported by the EU and aimed to promote the cashew nuts sector to attract more investments in the plantation and processing across Kampong Thom, Kratie, and Kampong Cham provinces. More than 50 journalists from 30 media outlets attended it.
Cashew production is an important source of income for local farmers and small and medium enterprises (SMEs), with many jobs created in plantations and processing facilities, especially for young people.
Employment in the cashew nut sector will also help reduce migration to neighboring countries, Fornari said.
“Investors must learn about the potential of cashew nuts and the companies that produce them. They have to come to the sites to see it,” he said, praising the “good quality and taste of nut.”
Traditionally, Cambodia exports most of its cashew production to Vietnam, where the nuts are being processed and exported worldwide. China, Japan, Laos and the United Arab Emirates are also big export markets for the country.
From January to October, the country earned $831 million from exporting 615,000 metric tons of raw cashew nuts to Vietnam, down 19.7 percent compared to the same period last year.
The average price of raw cashew nuts is $1,658 per ton. In October, the price increased to 7,000-to-7,500 riel per kilogram – equivalent to $1,900 per ton.
Cambodia currently has about 700,000 hectares of cashew plantations with more than 110,000 hectares being in Kampong Thom province.
Meng Seavmey contributed to the story.