Cambodia earned $3.4 billion from agricultural exports in the first 10 months of 2024, an almost 50% increase compared to the same period in 2023. This positive trend is expected to continue, especially if Cambodia can develop its processing industries and increase its value-added production.

In a recent forum discussion, Khim Finan, spokesperson for the Ministry of Agriculture, Forestry, and Fisheries, noted that most of the $3.4 million in agricultural products that were exported from January to October were in raw or unprocessed forms, resulting in lost revenue for the country.

“If we can find ways to process and add value to our agricultural products before exporting them, the potential for added value in the agricultural sector is enormous,” he said.

He explained that products such as cashew nuts, rice and cassava are largely sent overseas in raw form. Exporting these products after they have been processed would bring huge benefits to the national economy, through job creation and tax revenue.

“If we can do this, Cambodia could better control its economic future,” he added.

He emphasised that to make this happen, it is essential for farmers to actively participate in forming agricultural cooperatives.

“By organising into cooperatives, it will make things easier for both the farmers and the buyers, as they won’t have to worry about issues like market access, seed selection or pricing. Buyers involved in processing or exporting will also benefit from a more predictable supply chain,” he explained.

“If we implement this model, agriculture will become a key driver of national economic growth,” he added.

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Author: Hin Pisei

Publication date: 20 November 2024

Source: The Phnom Penh Post