Cambodia to export $35M worth of M23 cashew nuts to China

Cambodia to export $35M worth of M23 cashew nuts to China

The strong cooperation between the two nations not only ensures the continued growth of cashew exports but also sends a positive signal to attract more investors to the Kingdom to expand agricultural exports to global markets.

Cambodia will export M23-type in-shell cashew nuts to China in the initial phase, worth approximately $35 million, as part of efforts to strengthen and expand bilateral economic, trade, and investment cooperation between the two countries.

This was disclosed during a meeting on Wednesday between Samheng Bora, Secretary of State at the Ministry of Commerce (MoC) and Secretary of State and Chairman of the Export Promotion Task Force (EPTF), and Jiang Xiaofei, Director of the Overseas Enterprise Expansion Working Committee of the China Institute for Innovation and Development Strategy (CIIDS) in Phnom Penh.

Jiang led a delegation comprising the China Bonded Port Group Co., Ltd. and representatives from Men Sarun MDR Co., Ltd. The meeting was also attended by undersecretaries of state, the director general of trade promotion, and other officials from the Ministry of Commerce.

Bora apprised the visiting delegation of the improvements in the agro-industrial sector and value chains, which serve as key drivers for Cambodia’s sustainable economic development. “This meeting aims to strengthen and expand Cambodia-China bilateral economic, trade, and investment cooperation, while also exploring potential to boost Cambodia’s agricultural exports,” he said.

He also witnessed the signing of a Memorandum of Understanding (MoU) on the ‘Supply Contract of Cambodian Cashew Nuts’ between China Bonded Port Group Co., Ltd. and Men Sarun MDR Co., Ltd.

Under the agreement, Cambodia will start exporting in-shell cashew nuts (M23 type) in the first phase, valued at about $35 million. Both parties share a strategic vision to further expand exports, which are expected to potentially reach $400 million in the future.

According to the MoC, the achievement is the result of active coordination and matchmaking efforts by the Export Promotion Task Force (EPTF), which plays a central role in connecting Cambodian exporters with potential international buyers.

The strong cooperation between the two companies not only ensures the continued growth of Cambodia’s cashew exports to the Chinese market but also sends a positive signal to attract more Chinese investors to Cambodia to expand agricultural exports to global markets.

Cambodian Cashew Federation (CCF) President An Dara told Khmer Times yesterday that he welcomed the signing of the MoU to export Cambodian cashew nuts to China.

“We support this initiative because we want to diversify markets so that Cambodia’s unprocessed cashew nuts can be exported to more countries,” he said.

He said that Cambodia currently exports around 90-95 percent of its raw cashew nuts to Vietnam each year, but the federation has been exploring other potential markets. Besides Vietnam, he believes China and India are promising destinations.

“We hope that in the future we will have at least two additional options for exporting our cashew nuts to China and India, besides Vietnam,” Dara said.

He noted that the Chinese market presents a good opportunity for Cambodia, but exporters must ensure that prices remain competitive to succeed.

Dara added that in recent years, the CCF has been actively promoting Cambodian cashews by participating in international events and programs related to the cashew industry to raise global awareness of Cambodia’s cashew products.

khmertimeskh