Cashew nut sector in trouble
The association’s president, Oum Uon, said 30 members planned to purchase 200 tons of cashew nuts this year for sale domestically and for export but could only manage to buy six tons, due to a lack of funds.
Mr. Uon said prices for raw cashew nuts had risen from 6,500 riel (about $1.70) per kilogram to approximately 8,000 riel (about $2) per kilogram. Processed cashew nuts are being sold for up to $15 per kilogram, with prices higher in Cambodia than in export markets.
He said current export markets for his association included China and South Korea and that it planned to expand exports to Thailand and Vietnam.
“While lacking a budget to collect cashew nuts, in a year the association needs $50,000 to collect the cashews cut for supply to local and international markets,” Mr. Uon said.
Source: Khmertimeskh.com