Vietnam spends $1B on Cambodian cashews

In 2022, Cambodia exported 670,000 tons of raw cashew nuts worth US$1.07 billion to foreign markets, according to the office.

Vietnam imported over $1 billion worth of raw cashew nuts from Cambodia last year, reported the Vietnam Trade Office in Cambodia.In 2022, Cambodia exported 670,000 tons of raw cashew nuts worth US$1.07 billion to foreign markets, according to the office.

That means that 98.5% of the export value came from the Vietnamese market.

The Vietnam Cashew Association said Vietnam imported 1.9 million tons of raw cashew nuts last year. The imports from several countries including Cambodia totaled $2.66 billion in value.

Vietnam processes much of its raw cashew nut imports and then exports them again. Vietnam exported 514,699 tons of cashew nuts worth $3.05 billion in 2022, down 12.6% in volume and 16% in value against 2021.

At present, the country is home to a cashew-growing area of some 300,000 hectares, with raw nut output meeting about 30% of processors’ demand.

The cashew-growing area has shrunk in recent years, with many large material areas disappearing as farmers opt for other crops with better economic efficiency.

The association recently asked the Ministry of Agriculture and Rural Development to assess the stable and ong-term planning of cashew-growing areas.

The association also proposed developing cashew material areas in Cambodia and southern Laos.