PHNOM PENH: Cambodia exported US$543 million worth of raw cashew nuts in the first quarter of this year, a year-on-year increase of 13 percent, according to a report of the Cashew Nut Association of Cambodia.
The Kingdom exported a total of 424,000 tonnes of the total production of 474,000 tonnes to Vietnam, the source said.
The association’s president Mr. Uon Silot said the commodity’s export increase in value thanks to the growing demand in the international market as some cashew nut producing countries have been affected by unfavorable weather.
“The commodity price will likely continue to increase due to the El Nino impact on some cashew nut producing countries in Asia and Africa,” he said.
According to the Ministry of Agriculture, Forestry, and Fisheries, the Kingdom currently has about 700,000 hectares of cashew plantations in 10 provinces.
The Royal Government of Cambodia has launched the National Cashew Policy 2022-2027, a roadmap focusing on three major strategic goals — production, processing, and exports.
Since the policy launched, local processing cashew nut productions have surged from 5 to 10 percent, according to association’s president.
Cambodia is one of the largest cashew nuts producing countries in the world, but only 10 percent of the commodity are processed domestically.
Cashew is among the Kingdom’s potential cash crops in addition to rice, rubber, cassava, palm oil, bananas, mangoes, longans, and pepper.