Firm invests in Cambodian banana industry with $51 million venture

Longfruiter Anlong Veng Oddar Meanchey Agriculture Park Co Ltd has invested $51 million in the cultivation of bananas and fruits in Cambodia’s Anlong Veng district. According to Minister of Agriculture, Forestry and Fisheries Veng Sakhon, the company hopes to boost exports, especially to the Chinese market.

According to Sakhon, the General Administration of Customs of the People’s Republic of China (GACC) now allows 22 private companies to export fresh yellow bananas to the Chinese market, up from the initial 6. The minister believes that choosing the region to grow bananas was the right decision, as the area has sufficient water resources and is conducive to growing the trees well.

Cambodia exported 423,168.97 tons of fresh bananas last year, up by 27.02 per cent over 2020, valued at $4,323,719,300, according to preliminary data from the Ministry of Agriculture, Forestry and Fisheries’ General Directorate of Agriculture (GDA). Mainland China was by far the top buyer of fresh Cambodian bananas at 376,961.60 tons, followed by Vietnam (45,193.37 tons), Japan (533.52 tons) and Singapore (480.48 tons).


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