In an impressive display of agricultural prowess, Cambodia has secured its place as the world’s second-largest producer of raw cashew nuts. Throughout the first seven months of 2024, the nation produced an outstanding 830,000 tonnes of cashew nuts, as reported by the Cashew Nut Association of Cambodia (CAC). This swift ascent in the global cashew market is indicative of Cambodia’s dynamic agricultural sector and its ability to adapt to changing climatic conditions.
This notable increase in cashew production is, in part, due to the successful adaptation of crops to the El Niño weather phenomenon. Furthermore, there has been a modest expansion in cashew cultivation space across the country, contributing to the substantial boost in yield. The country’s thriving cashew export to neighboring Viet Nam is a clear reflection of this growth. With over 780,000 tonnes shipped and a revenue of $1.092 billion generated, Cambodia has witnessed a 36.7% surge in volume and a 28.1% increase in value just from these exports.
Cambodia’s ascension as a key figure in the cashew industry does more than just increase figures on a ledger; it signifies the nation’s rising competitiveness and the opportunities laying ahead. This remarkable development has laid the groundwork for enhancing foreign investment into Cambodia’s cashew processing capabilities, a move that would increase the value of the produce right at the source.
In line with the National Cashew Policy 2022-2027, the CAC is vigorously pursuing investments. The goals of this policy are multifaceted, aiming to generate new job opportunities, lessen the dependency on intermediary brokers, and maximize the profitability for local cashew farmers by including them in the value addition chain.
As India, previously a dominant producer, drops to third place due to climate challenges, Cambodia’s cashew industry paints a resilient and optimistic picture of the nation’s agricultural sector. The surge in production and exports showcases not just the current benefits but also the potential for sustainable growth and economic empowerment for communities involved in cashew farming.
With these developments, Cambodia’s agricultural sector is set to continue its impressive trajectory, reinforcing its status as an agricultural strongpoint in Southeast Asia and providing a robust future for those involved in the cultivation and trade of cashew nuts. This progression is a clear indication that the country’s approach and policies towards its cashew nut industry have the potential to yield long term benefits and a sustainable, stable market that benefits producers and consumers alike.
Source: Khmer Times
