The recent announcement of Australian agribusiness SPC Global’s plans to expand into the Cambodian market marks the beginning of a new era of agricultural prosperity for the Kingdom. This expansion will not only strengthen the agricultural ties between Australia and Cambodia but also provide a significant boost to the country’s export-oriented agro-processing sector, setting the stage for a brighter future in Cambodian agriculture.
During their visit to Cambodia, SPC Global’s chairman Hussein Rifai and CEO Matthew McMichael explored the Kingdom’s potential for agricultural investment and trade. They visited Kirirom Food Production in Kampong Speu and LyLy Food Industry Co in Phnom Penh, and met with four prominent agribusiness suppliers. This visit was part of Australia’s efforts to strengthen agricultural ties with Cambodia, following a successful meeting between SPC and Cambodian delegates during the CAPRED Agri-food Industrial Park visit to Australia earlier this year.
Cambodia’s agri-food sector is one of its key focus areas, and Australia is already supporting its development. The country has exceptional capacity for high-value agricultural produce, including mango, banana, cashew, sweet potato, sesame, chillies, and the world-famous Kampot Pepper. Between 2017 and 2022, Cambodia’s mango production increased by 160%, and dried fruit exports increased by up to 6,500%.
“Cambodia, with its rich agricultural heritage and untapped potential, is poised to become a leading food supplier in the global market. By harnessing its vast resources, embracing innovation, and fostering international collaboration, the Kingdom is set to transform the agri-food sector and nourish the world.”
SPC Global’s entry into the Cambodian market will provide the domestic export-oriented agro-processing sector with a much-needed boost. The Australian firm’s experience and sophisticated technologies will enable the development of innovative food products of the highest global quality, while also adding value to the Cambodian economy. Royal Academy of Cambodia economist Ky Sereyvath rightly pointed out that setting up processing facilities in Cambodia will not only boost production but also contribute to the country’s economic growth.
This partnership between Australia and Cambodia highlights the importance of international collaboration in the agri-food sector. By sharing expertise, technology, and resources, both nations can benefit from increased trade, investment, and economic growth. For Cambodia, this partnership will help develop its agri-food industry, create jobs, and improve the livelihoods of its people. For Australia, it will open up new markets and opportunities for its businesses, while also fostering stronger ties with a key regional partner.
SPC Global’s expansion into Cambodia is a landmark moment for the Kingdom’s agriculture sector. It is an excellent example of how international cooperation and investment can contribute to the sustainable development of the agri-food sector, benefiting not only the economy but also the people who depend on it for their livelihoods. As we witness the positive impact of this partnership on both Australia and Cambodia in the years to come, we look forward to a future of agricultural prosperity for the Kingdom.
Source: The Phnom Penh Post