Cambodia has achieved a significant milestone in its agricultural exports, with raw cashew nut shipments to Vietnam reaching impressive new heights. In the first five months of 2024, Cambodia exported 667,000 tonnes of raw cashew nuts to its neighbor, marking a substantial 37% increase compared to the same period last year. This surge in exports generated a revenue of $851 million, underscoring the thriving trade relationship between the two countries.
According to the Cashew Nut Association of Cambodia, despite challenges posed by hot weather conditions, the nation managed to produce 716,000 tonnes of raw cashew nuts during this period. Uon Silot, the association's chairman, highlighted that the robust export performance was driven by an expansion in cultivation areas within Cambodia and a concurrent drop in nut output in Africa, which has been affected by climate change.
“The increased cultivation space in Cambodia has been a significant factor in boosting our raw cashew exports. Even though we've faced extreme temperatures, our proactive approach to technology and farming practices has helped mitigate the impact on cashew production,” said Silot.
Looking ahead, the Cashew Nut Association of Cambodia is planning a strategic shift in its export focus. Over the next decade, the association aims to reduce the amount of raw cashew nut exports by 70%, in an effort to bolster domestic processing and value addition. Currently, a significant portion of Cambodia's cashew nuts—up to 90%—are exported, with Vietnam being a primary destination.
This strategic pivot is expected to not only enhance the value of Cambodian cashews but also strengthen the country's position in the global cashew market.
Cambodia’s commitment to expanding its agricultural capabilities and leveraging innovative farming techniques promises continued growth and development in its export sector. As the nation navigates these strategic changes, it remains a key player in the regional agricultural economy.
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