Cambodia exported 815,000 tonnes of cashew nuts worth over $1.5 billion in 2024, up 31 percent, the Cashew Nut Association of Cambodia (CAC) told Khmer Times on Sunday.

However, exports to Vietnam remained stagnant at 793,453 tonnes.

Uon Silot, president of the Cashew Nut Association of Cambodia (CAC), said Cambodia produced 850,000 tonnes of cashew nuts so far this year, up 26.8 percent.

“From January to December, Cambodia produced 850,000 tonnes, exporting 815,000 tonnes worth $1.5 billion an increase of 31 percent compared to the same period last year,” Silot said.

He noted that cashew exports continue to rise as the association encouraged members nationwide to dry the nuts when prices dropped. Prices began recovering in mid-March to April and later continued to rise in subsequent months.

The cashew sector has attracted significant interest from both local and foreign investors. Recently, five major companies from South Korea have expressed interest in establishing a cashew processing plant in Kampong Thom province for international export.

“This is a positive sign for the cashew sector. I have received five Korean delegations, including one through the Kampong Thom provincial administration and another through the Council of Ministers. These companies plan to build factories in the industrial park where land has been prepared for them, but the outcomes of these discussions are not finalised yet,” Silot added.

He said that the companies that came to the CAC directly were those interested in buying large quantities of raw cashew nuts. However, what had not been agreed upon was the payment method, as these companies wanted to make payments through letters of credit (LC), which would take up to 90 days.

“We don’t have enough funds to rotate such a large amount. That’s why we proposed a system where money enters the account and the vehicle spins the wheel, as otherwise, we cannot purchase raw materials. Negotiations are ongoing, and I hope we can reach a favourable deal,” he said.

Last week, Kampong Thom Governor Nuon Pharath met with a Korean delegation to discuss investment opportunities in cashew processing in the province. Pharath highlighted that Kampong Thom’s cashew plantations span 150,000 hectares, with an average yield of 1.5 tonnes per hectare annually, producing over 220,000 tonnes—30 percent of Cambodia’s total production.

“This meeting supports the vision of Prime Minister Hun Manet, who authorised the establishment of an agro-industrial park to transform Kampong Thom into Cambodia’s cashew processing hub,” Pharath said.

It may be recalled that the Unique Noble Trading Co. Ltd. last week broke ground for a new cashew processing plant in Kampong Thom province as the world’s second-largest producer continues to expand the billion-dollar industry.

Pin Phirom, Director-General of the Unique Noble said the factory would process 30 tonnes of nuts a day and will create 200-400 jobs. The factory will also process cashew apples and shells into oil and fertiliser, she said.

Speaking at the closing ceremony of the ‘Summarise the Work Result of Ministry of Commerce (MoC) in 2024 and the Work Direction for 2025’ on Friday, Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance, urged the Ministry of Commerce to promote strategies to strengthen existing markets and expand new ones.

“Collaboration is needed to strengthen domestic production and promote the use of Khmer products through local and international exhibitions. The MoC must also focus on increasing the registration of geographical indications and collective marks to enhance the quality and branding of Cambodian products in both domestic and international markets,” Pornmoniroth sai

Source: Khmer Times

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