Cambodia has knocked off Ivory Coast to become Vietnam’s biggest supplier of raw cashew nuts. Earlier it was the African nation that held the position. The General Department of Customs of Vietnam made the announcement on Saturday.

As per figures in 2024, January to May saw Cambodia take the number one position as Vietnam’s biggest supplier of cashew nuts. Close to 760,000 tons of products worth in excess of $971 million marked a 39 percent increase in volume and 29 percent in value from the previous year.

The processing capacity of Vietnam is 3.5 to 4 million tons of cashew nuts for export. The processors however are heavily dependent on the purchase of raw materials for nearly 90 percent of unprocessed products which are imported.

As the global leader in the export of cashew nuts, Vietnam accounts for as much as 80 percent of cashew exports. It has held on to its leadership position for 16 years in a row. It currently has its sights set on $4 billion in cashew exports after touching $3.6 billion in 2023.

Continuing the endeavour to provide assistance to the cashew nut industry, the government held a forum in Kampong Thom Province on Friday. The event was held under the chairmanship of Sok Dara, Director General of the Regulatory Authority and ACSEP-PIU1 Project Manager and Prem Ratha, Deputy Governor of Kampong Thom Province.

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Reporter: Jigme Palden Pazo

Publication date: July 9, 2024

Source: Khmer Times