Kingdom’s cashew nut exports to Vietnam surge 36%
Kingdom’s cashew nut exports to Vietnam surge 36%
Cambodia exported over 790,000 tonnes of cashew nut to Vietnam in the first ten months of 2024, generating $1.110 billion in revenue, an increase of 36 percent, said an official of the Cashew Nut Association of Cambodia (CAC).
Suy Kokthean, Vice President of the Cambodian Cashew Nut Association (CAC), told Khmer Times yesterday that from January to October 2024, Cambodia produced 840,000 tonnes of cashew nuts, marking a 26 percent increase compared to the previous year.
“Of this total, more than 790,000 tonnes were exported to Vietnam, generating $1.110 billion in revenue, an increase of 36 percent. Additionally, the price of cashew nuts rose by 9 percent compared to the same period in 2023,” he said.
Kokthean also said that Cambodia has the potential to become the world’s leading producer of cashew nuts within the next four to five years. “I am saying this with a degree of confidence because of the current state of our cashew nut industry,” said Kokthean. “Our cashew nut production has been expanding year after year, and the yields we are harvesting are also higher than before.”
He said that the second reason for his optimism is the continuous expansion of cultivated land. According to recent reports, new cashew plantations are being established annually, as seen in both the past year and this year.
“Many farmers who grow cashew nuts are struggling to find cashew nut trees to plant, as demand for seedlings exceeds supply. As a result, more and more farmers are turning to cashew nut cultivation every year, driven by the high price of high-quality cashew nuts,” Kokthean explained.
The CAC official also emphasized that the trend of increased cashew planting is expected to continue, as prices remain strong due to a global supply shortage, which drives up demand.
However, Kokthean noted that climate change remains the biggest challenge for the industry. Extreme weather patterns can significantly affect yields. On a positive note, farmers are already equipped with advanced cultivation techniques, as the CAC and the Ministry of Agriculture regularly conduct training sessions for them.
In 2023, Cambodia exported 656,000 tonnes of cashew nuts, earning $837 million in revenue.
The provinces that cultivate most cashews include Kampong Thom, Kratie, Stung Treng, Siem Reap, Kampong Cham, Oddar Meanchey, Mondulkiri, Ratanakiri, Preah Vihear, Tbong Khmum and Kampong Chhnang.
