According to a Ministry of Agriculture, Forestry and Fisheries (MAFF) report, Cambodia has recorded a gross revenue of $3.9 billion from the export of agricultural products in the first 11 months of 2023. The Southeast Asian nation shipped a total of 7.31 million tons of agricultural products to 75 countries and regions during the January-November period, marking a 4.6 percent drop compared to the previous year.
Among the key agricultural items exported were rice, rubber, cassava, mangoes, fresh bananas, pepper, cashew nuts, longan, corn, and palm oil. These products constitute a significant portion of Cambodia’s agricultural export industry.
Ngin Chhay, the director-general of the MAFF’s General Directorate of Agriculture, acknowledged the slight decline in export volume but expressed optimism about a rebound. In November, Cambodia experienced a substantial increase in agricultural exports, with a recorded export volume of 1.03 million tons. This figure represents a remarkable 50 percent increase from the 0.69 million tons exported in November of the previous year.
China, Vietnam, and Thailand are the primary importers of Cambodian agricultural items. These countries play a critical role in sustaining the export market for Cambodian farmers and agribusinesses. Their continued demand for these products further reinforces the potential for growth in the agricultural sector.
Although the first 11 months of 2023 presented challenges, such as market fluctuations and disruptions caused by the global pandemic, the notable surge in November’s export volume indicates a promising future. The Cambodian government’s commitment to supporting the agricultural sector through initiatives such as sustainable farming practices, technical training, and infrastructure development is expected to contribute to the sector’s resilience and growth.
As the global economy recovers, there is a potential for improved market conditions and increased demand for agricultural products. Cambodia is well-positioned to regain momentum in the export of its agricultural goods, further bolstered by its commitment to diversifying its export markets and ensuring product quality and international standards.
The MAFF’s report serves as a valuable indicator of the agricultural sector’s performance and provides insights into the opportunities and challenges faced by Cambodian farmers and agribusinesses. The sector’s contributions extend beyond economic benefits, as it plays a vital role in poverty reduction and rural development, providing livelihoods for many individuals.
With a positive outlook for the agricultural industry, Cambodia remains focused on expanding its market access, enhancing productivity, and maintaining high-quality standards. By continuously exploring new markets and attracting investments in the sector, Cambodia aims to unlock the full potential of its agricultural exports.
In conclusion, Cambodia’s agricultural exports have generated significant revenue despite the slight drop in export volume. The country’s promising growth trajectory, bolstered by increased exports in November, showcases its potential for resilience and further development in the agricultural sector. The collaboration with major importers and government support will continue to propel Cambodia’s agricultural exports in the years to come.
Source: Khmer Times