In the first eight months of this year, Cambodia exported more than 600,000 tons of cashew nuts to Vietnam

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[INNEWS Comprehensive Report] On September 19, the Cambodia Cashew Association released a report stating that in the first eight months of 2023, Cambodia exported more than 600,000 tons of cashew nuts to Vietnam, with a value of approximately US$820 million, a year-on-year decrease of nearly 16%.

Uon Silot, chairman of the Cambodian Cashew Association, said the decline in cashew exports this year was due to the impact of climate factors. Secondly, farmers have cut down some cashew trees. Another factor is that local companies have increased their purchases of cashew nuts for storage and processing to supply exports.

Uon Silot said that although the export volume of cashew nuts decreased, the price of cashew nuts in August and September this year was better than last year, with prices ranging from 7,000 to 7,500 riel (about 1.75 to 1.8 US dollars) per kilogram and about 1,900 US dollars per ton. In any case, only some farmers have benefited from the increase in cashew prices, because most of them sold earlier in March and April this year, when the price was only 5,000 to 6,000 riel (about 1.25 to 1.50 US dollars) per kilogram.

Uon Silot pointed out that since most farmers do not have warehouse storage infrastructure for cashew nuts, farmers can only sell in March to April, when sales exceeded 230,000 tons. Few farmers have warehouses where they can sell until August and September. The association has been telling farmers since March 2023 that prices will rise in August and September.

According to statistics from the Cambodian Cashew Association, the current cashew planting area across the country is approximately 700,000 hectares. Global cashew nut production in 2021 will be approximately 5 million tons, of which Cambodia’s output will be approximately 1.18 million tons, accounting for about 24%, making Cambodia the country with the largest cashew nut production. As for 2022, Cambodia’s cashew nut production will be approximately 690,000 tons, ranking second.