Logo of Phnom Penh Post newspaper Phnom Penh Post - Vietnam pays to fortify local production of cashews

Vietnam pays to fortify local production of cashews

A worker holds freshly picked cashew nuts on a plantation in Kampong Cham province’s Batheay district.
A worker holds freshly picked cashew nuts on a plantation in Kampong Cham province’s Batheay district. Sovan Philong

Vietnam pays to fortify local production of cashews

The Vietnam Cashew Association (Vinacas) gave the Cambodian Ministry of Agriculture a $66,000 grant late last week to support cashew production in the Kingdom, according to ministry officials.

According to Hean Vanhan, director general at General Directorate of Agriculture, the grant will go toward enacting a four-year plan that will see 1 million cashew trees planted on a new 500,000 hectare farm by 2022.

“We are planning to plant one million cashew trees in order to build up the capacity of our cashew production,” he said. “The main market for raw cashew nuts is Vietnam, and Vinacas wants to build a strong relationship with us for the future, so that we will have enough cashews for export.”

He added that no agreements had yet been made for future cashew exports to Vietnam, but that a deal was expected to be forged in the near future.

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. Vietnam exports approximately 3.2 million tonnes of processed cashews to the international market each year.

MOST VIEWED

  • US imposes sanctions on Oknha Pheap and Kun Kim

    The Ministry of Foreign Affairs and International Cooperation expressed strong dismay on Monday over the designation of Cambodian tycoon Oknha Try Pheap and General Kun Kim under the US’ Global Magnitsky Act. “It is very disturbing when the public figures of a country become the

  • Mother, daughter killed in hotel fire

    The bodies of a mother and daughter were found locked in an embrace after they were killed in a hotel fire in Phnom Penh at around 3:30am on Wednesday at the Phkar Chhouk Tep 2 Hotel and Restaurant in Phsar Doeum Kor commune, in the capital’

  • EBA withdrawal a destruction of EU achievements, PM says

    Prime Minister Hun Sen said the EU’s possible suspension of its Everything But Arms (EBA) agreement amounted to a destruction of its achievements in the Kingdom and the demise of the opposition group. Hun Sen made the remarks while addressing more than 6,700 students during

  • Rights Day forum denied in Sihanoukville

    The Preah Sihanouk provincial administration last Saturday denied the request of land communities for a public location in the province to celebrate International Human Rights Day 2019 as the administration had already held forums to discuss land issues. However, the land community representatives said they would

  • Kingdom calls on Japan to increase number of direct flights to Siem Reap, Phnom Penh

    Cambodia is requesting Japan to increase the number of direct flights from Japanese cities and provinces to Phnom Penh and Siem Reap, so as to contribute to increasing cooperation and tourist numbers between the two countries. During the opening ceremony of 3rd Japan Travel Fair

  • Sri Lanka’s LOLC Holdings plans to sell Cambodian unit

    LOLC Holdings Plc, Sri Lanka’s second-largest publicly traded company by revenue, plans to sell its 70 per cent stake in Prasac Microfinance Institution Ltd, which also counts Hong Kong’s Bank of East Asia Ltd. as a shareholder, LOLC deputy chairman Ishara Nanayakkara said. Nanayakkara