Cambodia has become the world’s second-largest producer of raw cashew nuts, with a total production of 830,000 tonnes in the last seven months of 2024, according to the report of the Cashew Nut Association of Cambodia (CAC).
CAC said, there has been a significant increase in cashew exports to Vietnam, amounting to over 780,000 tonnes valued at $1,092 million. This represents 36.7 percent increase in volume and 28.1 percent increase in value.
Uon Silot, President of the Cashew Nut Association of Cambodia (CAC), told Khmer Times on Sunday that this increase is not accidental because, since May, the CAC has seen a significant increase due to cashew nut crops adapting to the El Nino phenomenon, while the area under cultivation has also slightly increased as well.
It may be recalled that on September 2023, the CAC announced that Cambodia might be impacted by about El Nino phenomenon. The association has issued some guidelines both for CAC members and farmers, in general, to be prepared to maintain a good harvest. “The CAC instructions were adapted hence the yields increased,” said Silot.
The world’s first-largest producer of raw cashew nuts is Ivory Coast, while Cambodia overtook India as the second-largest. India dropped to the third place due to climate change.
Silot said, “This information is important as it could attract more foreign investors. When thinking of cashews, we should think of Cambodian cashews.”
CAC wants to attract more investment for local processing so that the cashew policy 2022-2027 can achieve greater results.
“This is what the CAC and other parties have always dreamt of, because the more factories we have, the more jobs we can create in the community, reduce migrant workers and help farmers maintain a fair price by providing value-added to our farmers by reducing a large number of brokers,” Silot emphasised.
Dried cashew nuts currently cost around 7,300 riel per kilogram.
Cambodian cashew nut industries require an additional investment of about $329 million to comply with the National Cashew Policy 2022-2027 to develop infrastructure.
Last two weeks, Delegate of the Royal Government In Charge as the CEO of Agricultural and Rural Development Bank (ARDB) Kao Thach urged cashew farmers to join the Cashew Nut Association of Cambodia (CAC) and other farming communities to learn about production development, strengthen the quality and have the power to sell their products.
Thach led his colleagues to join a meeting with the CAC in Kampong Thom province to improve cashew nut production, quality and market.
Three modern farming communities for cashew in Kampong Thom province will be officially formed in August or September including Kampong Thom Sala Visai with 88 members and 204 hectares of cashew cultivation area, Prasat Sambo with 97 members with 509 hectares of cashew cultivation and Tamring Kampong Thom with 76 members and 460 hectares of cashew production area.