Logo of Phnom Penh Post newspaper Phnom Penh Post - Cambodia’s Camcashew signs MoU to export nuts to South Korea

Cambodia’s Camcashew signs MoU to export nuts to South Korea

A woman performs quality checks on cashew nuts at the Cashew Nut Village Shelling Center in Kampong Thom province in 2014.
A woman performs quality checks on cashew nuts at the Cashew Nut Village Shelling Center in Kampong Thom province in 2014. Hong Menea

Cambodia’s Camcashew signs MoU to export nuts to South Korea

Local agricultural firm Camcashew signed a memorandum of understanding (MoU) with an obscure South Korean company yesterday with the aim of exporting 10,000 tonnes of processed cashew nuts next year, claiming that the two firms had reserved $100 million to fund the agreement.

Camcashew, a joint venture between a Cambodian and Malaysian firm, signed the MoU with Kim Ki Chul, president of South Korea’s Naroo Marine Company Limited.

Syaiful Hazreen, director of Camcashew, said yesterday that $80 million would be spent to purchase 40,000 tonnes of raw cashew nuts while the remaining $20 million would be spent on purchasing a 400-hectare plot of land and machinery for processing the raw kernels.

“So far, we have only supplied cashew nuts to the local market, but right now we have an agreement that ensures that Korea will buy processed cashews from us,” he said, adding that the company hopes to start exporting in February of next year.

“We hope that in the future we can export more kinds of agricultural products [to Korea] in addition to cashew nuts,” he added.

While the $100 million MoU is only valid for one year, both companies have committed to extending the agreement providing Camcashew can successfully meet the export requirements.

To do that, Camcashew intends to sign supply contracts with cashew farmer associations in the provinces of Kampong Thom, Kampong Cham, Kratie, Ratanakiri and Preah Vihear. Those provinces hold a total of 30,000 hectares of cashew fields.

According to data from the Ministry of Agriculture, Forestry and Fisheries, Cambodia produces a total of about 104,000 tonnes of raw cashews annually. Most production comes from the provinces of Kampong Thom and Kampong Cham, which account for 29 percent and 18 percent respectively.

In the first 11 months of this year, Cambodia exported 71,293 tonnes of raw cashews to Vietnam, Thailand, China and India. Vietnam alone absorbed 98 percent of these exports.

MOST VIEWED

  • Hong Kong firm done buying Coke Cambodia

    Swire Coca-Cola Ltd, a wholly-owned subsidiary of Hong Kong-listed Swire Pacific Ltd, on November 25 announced that it had completed the acquisition of The Coca-Cola Co’s bottling business in Cambodia, as part of its ambitions to expand into the Southeast Asian market. Swire Coca-Cola affirmed

  • Cambodia's Bokator now officially in World Heritage List

    UNESCO has officially inscribed Cambodia’s “Kun Lbokator”, commonly known as Bokator, on the World Heritage List, according to Minister of Culture and Fine Arts Phoeurng Sackona in her brief report to Prime Minister Hun Sen on the night of November 29. Her report, which was

  • NagaWorld union leader arrested at airport after Australia trip

    Chhim Sithar, head of the Labour Rights Supported Union of Khmer Employees at NagaWorld integrated casino resort, was arrested on November 26 at Phnom Penh International Airport and placed in pre-trial detention after returning from a 12-day trip to Australia. Phnom Penh Municipal Court Investigating Judge

  • Sub-Decree approves $30M for mine clearance

    The Cambodian government established the ‘Mine-Free Cambodia 2025 Foundation’, and released an initial budget of $30 million. Based on the progress of the foundation in 2023, 2024 and 2025, more funds will be added from the national budget and other sources. In a sub-decree signed by Prime Minister Hun Sen

  • Two senior GDP officials defect to CPP

    Two senior officials of the Grassroots Democratic Party (GDP) have asked to join the Cambodian People’s Party (CPP), after apparently failing to forge a political alliance in the run-up to the 2023 general election. Yang Saing Koma, chairman of the GDP board, and Lek Sothear,

  • 11th Chaktomuk Short Film Festival draws to close

    Cambodia's 11th Chaktomuk Short Film Festival wrapped up successfully on November 28 after a four-day run, with the film “Voice of the Night” awarded top prize for 2022. Sum Sithen, the organiser of the short film festival, told The Post that the number of attendees to the