In the realm of agricultural exports, Cambodia has established itself as the world's second-largest exporter of raw cashew nuts (RCN), with a reported shipment of 830,000 metric tons (mt) in the initial seven months of the current year, as per The Investor. Despite this, the nation has faced challenges in processing the raw nuts domestically. To address this, the Cambodian government has introduced the National Policy on Cashew 2022-2027, aiming to elevate the country to the forefront of cashew exporters globally. This strategy involves the creation of three advanced cashew farming communities within Kampong Thom province.
The Ministry of Agriculture, Forestry and Fisheries is poised to bolster cashew farmers through financial and technical aid, aiming to enhance the efficiency of cashew production and value addition within Cambodia. This move comes in the wake of the country exporting over 650,000 mt of RCN, valued at USD 837 million last year, yet only possessing the capability to process approximately 5% of its annual yield. The government's initiative seeks to amplify cashew harvesting and processing by 25% by the year 2027 and by 50% by 2032, alongside broadening export markets and fortifying competitive edges.
Meanwhile, the cashew market in India has observed a notable increase in prices, with cashew kernels, W320, currently trading at USD 7,960/mt FOB India, underscoring a dynamic shift in the global cashew trade landscape.
Source: Mundus-Agri