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  • Cashew exports to Vietnam decline 16%, says CAC 09/18/2023

    Sep 18th, 2023

    Cambodia exported 607,000 tonnes of Raw Cashew Nuts (RCN) to Vietnam in the first eight months of 2023 earning $820 million, a decrease of 15.8 percent compared to the same period last year. According to the data provided to Khmer Times by Uon Silot, President of the Cashew Nut Association of Cambodia (CAC), Cambodia produced 634,000 tonnes of RCN in the January to August 2023 period and approximately 95 percent of it was exported to Vietnam. Silot said the average price of RCN was $1,658 per tonne, but in August this year, the price increased to $1,900 per tonne, or from 7,000 riels to 7,500 riels per kg, a rise of nearly 15 percent. Last year, RCN was sold at 5,800 riels per kg only. Despite the price increase, investors in the agriculture industry are still exposed to the risks of fake news about Cambodia such as those about drugs, scams, theft, and kidnapping cases, Silot said. “Cambodia’s reputation has been affected by this fake news. Although the government is taking action, the agriculture sector is still at the receiving end with international investors refusing to make the necessary investment,” he said, adding that this has affected cashew productivity as well. Silot also pointed out that local enterprises interested in operating cashew processing plants need to get permission from the Ministry of Industry, Science, Technology and Innovation (MISTI) and then go on to register with the Ministry of Land Management, Urban Planning and Construction (MLMUPC) to construct buildings or factories. After all the applications are approved, the enterprises still need to get certified by the Ministry of Environment (MoE) that their operation will not affect the livelihood of the people at the grassroots level. Lastly, they also need to request for official brand name from the Ministry of Commerce (MoC). Silot suggested that these complicated procedures be modified and conducted through ‘one-stop solutions’ to reduce time and improve the business climate. He also urged the media and international partners to help promote Cambodia’s agricultural products and facilitate the process of importing them into their countries. Silot also asked the government to help increase the supply of raw materials and reduce the cost of logistics and shipping.