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  • Cashew prices rose, Cambodia calling for investment

    Jul 5th, 2016

    Cashew prices have soared 15% in 2016, so the processing - that Cambodian exports are calling on the government to support greater investment to grow things.

    According bending Oum, president of the Association that in Kampong Thom province, 30 members of the association plans to buy 200 tons of it in 2016 to trading on the domestic market and exports, but so far only bought around 2 tons. He said the price of crude bending has increased from $ 1.3 / kg to 1.6 USD / kg from the beginning of the year. Cashew processing is currently selling for between 12-15 USD / kg, higher domestic prices of export price (?!). He said the market inflection current export of associations including China and South Korea. Association plans to expand exports to Thailand and Vietnam.

    He said the association bending is hoping to expand area under cultivation and to encourage farmers to apply better farming techniques and higher quality seed. Mr. Say Meng Ly, director of the factory in Kampong Thom said that the current price of farmers benefit and satisfaction with current price levels. Processed cashew price currently stands at USD 15 / kg for the domestic market and $ 12 / kg for the export market (?!).

    He said his factory pay farmers $ 1.55 / kg of raw cashew and now the factory has 300 suppliers. Mr. Meng Ly said his factory is expanding the area to buy the 8 districts of the province in this year's harvest. In the first 4 months, his plant produces about 3 tons of things, but demand should increase the plant plans to buy another 30 tons. The output of the plant is to serve the domestic market.

    He said that in hot weather cashew and cashew pretty easy not need much water. His company has signed agreements with buyers in South Korea, the EU, Thailand and Singapore but only the buyer of imported goods Singpapore.

    Both Mr. Meng Ly and bending are calling on the government to increase investment in cashew cultivation by high and growing demand that will help create jobs in the dry season. All sectors and actors should promote the development of this sector, the two men said.

    He Khamn Samban, head room industrial plants under the Ministry of Agriculture, said the agency is technical training for farmers to grow it. He said the price increase is due to growing farmers pass other crops a few years ago, leading to reduced production of crude.

    Last year, Cambodia exported about 103,000 tons of cashew, 400 tons were exported to Vietnam for processing, according to data from the Ministry of Agriculture.

    Source: Khmer Times