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Cashew exports advance

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Cashews are prepared for export in Cambodia. Photograph: Heng Chivoan/Phnom Penh Post

Cashew nut exports increased more than 10-fold, to 4,231 tonnes, in the first half of the year compared to the same period in 2011 when Cambodia exported 392 tonnes, according to data released by the Ministry of Commerce.

The price of the cashew nuts dropped about US$450 from $1,137 per tonne in 2011, to $685 per tonne for 2012. This year’s revenues were $2,898,806 compared to last year’s of $444,669.

Kong Putheara, the director of the Statistics and Information Department, said that cashew nuts grown in Cambodia were absorbed by the Vietnamese market for processing for export or to return to Cambodia.

The huge increase in exports indicates the large demand for Cambodian agricultural products remained high, while some other products were affected by the euro zone debt crisis, he said.

“Based on the data, the demand of cashew nuts in foreign markets is good,” he said.

To contact the reporter on this story: Rann Reuy at reuy.rann@phnompenhpost.com

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