Cambodia earned more than $1.15 billion from the export of raw cashews in 2024, an increase of more than 26 per cent over the previous year. Despite the growth industry insiders warned that a lack of working capital means the Kingdom is missing out on adding value to their exports.

Vietnam purchased over 97 percent of the total export volume, noted the Cashew nut Association of Cambodia (CAC).

The CAC reported that in 2024, Cambodia harvested approximately 850,000 tonnes of cashews. 815,000 tonnes were exported, a 21 percent increase over 2023. 

Vietnam, with its substantial investment in processing factories and warehouses, remains the primary buyer of raw Cambodian cashews, purchasing about 795,000 tonnes.

CAC country director Uon Silot told The Post on January 22 that cashew production in 2024 showed notable positive results, with both the volume of production and international market prices increasing.

He noted that the cashew sector is now considered a major potential source of agricultural exports, second only to rice cultivation.

“Vietnam is the largest market for raw cashews, while buyers from China and India are mainly interested in high-quality processed nuts,” he said.

“The raw cashew export market showed strong growth in 2024, with increased sales in both volume and price, positioning the cashew industry as the second most important sector after rice. Our data shows that raw cashews contributed $1.15 billion to the national economy, which is a good sign for Cambodia's agricultural sector. All stakeholders should consider further investments in this sector, as it has created numerous jobs for farmers,” he added.

He also highlighted the fact that cashew production is receiving strong attention from the government, particularly through the establishment of the National Cashew Policy for 2022-2027, which encourages financial institutions to offer loans at favourable interest rates to cashew farmers. However, the amount of credit made available to those in the cashew sector remains relatively low.

“Despite the cooperation in providing loans at favourable interest rates, the terms of the loans are often strict, which prevents local cashew processing enterprises from obtaining working capital to purchase raw materials. As a result, 95 per cent of raw nuts are exported abroad,” added Silot.

According to the CAC, Cambodia currently has approximately 700,000 hectares of cashew orchards, with about 580,117 hectares in production. The remaining area consists of newly planted orchards. 

Cashews are grown in almost every province, with the majority located in Kampong Thom, Kratie, Ratanakiri, Stung Treng, Kampong Cham, TboungKhmum, Preah Vihear, Siem Reap, Oddar Meanchey, Kampong Chhnang and Mondulkiri.

According to Silot, the Kingdom is home to 52 cashew processing enterprises, 6 of which are medium-sized plants, with production capacities ranging from 7,000 to 140,000 tonnes per year). The remaining 48 enterprises are small family-run businesses that are not yet capable of year-round production.

To promote the export of processed cashews, on January 20, Samheng Bora, commerce ministry secretary of state and chairman of the Export Promotion Task Force, held a productive meeting with Takashi Inoue, CEO of Inoue Calcium Corporation, at the company’s headquarters in Kochi, Japan. 

The meeting was also attended by Soeun Sothnita, co-founder of Handcrafted Cashew Nuts Stung Treng.

The discussions centred on unlocking the potential of Cambodia’s cashew nut exports to Japan and identifying practical strategies to expand market access. 

A key highlight of the meeting was the announcement that Inoue Calcium Corporation is piloting its first trial shipment of cashew nuts from Handcrafted Cashew Nuts Stung Treng to Japan.

The dialogue emphasised the export task force’s commitment to providing targeted support to enhance trade opportunities, foster stronger partnerships and promote sustainable growth within Cambodia’s agricultural products sector, especially the export of cashew nuts.