Cambodia's cashew production has decreased, and the price has risen to the highest level in 15 years

The Cashew Nut Association of Cambodia recently announced that it would raise the price of fresh cashew nuts (wet cashew) to 5,000 riels/kg (about 8.7 yuan), setting a new record in 15 years! The price increase came at a time when Cambodia's cashew exports exceeded 400,000 tons in the first three months, with an export value of more than US$500 million. At the beginning of 2023, the price of raw cashew nuts in the country was between 4,000 and 4,600 riels/kg (about 7.0 to 8.0 yuan). El Niño is the main driver of cashew price fluctuations, raising export prices in some cashew producing countries in Asia and Africa. Silot Uon, chairman of the association, said that Cambodia's raw cashew production from January to March 2024 was 474,000 tons, a decrease of 13% compared with the same period last year. In the first quarter of this year, Cambodia's total cashew exports to Vietnam were 424,000 tons, with an export value of US$543 million, an increase of 13% year-on-year. Silot Uon ...