Vietnam: Trade transactions with Cambodia increased sharply

Cashew Nut Kernel

Cambodia

Vietnam

Published Nov 10, 2022

Tridge summary

In the past few years, Cambodia has become the main raw material area for many Vietnamese processing and export enterprises, bringing economic benefits to both countries. In the opposite direction, Vietnam's exports to Cambodia also skyrocketed. Supplying millions of tons of cashew nuts to Vietnam At the end of 2017, Mr. Nguyen Duc Thanh, then the Chairman of the Vietnam Cashew Association (Vinacas), led the business delegation (DN) to promote trade for the first time. in Cambodia.

Original content

The work program at that time was the key to building a raw material area of 1 million tons of cashew in Cambodia. Recalling that time, Mr. Nguyen Duc Thanh said: “From 2014 onwards, Cambodia only sold about 30% of the cashew nut production it harvested to Vietnam. Although the quality was relatively good, the output of Cambodian cashew was not much at that time, so the main raw cashew suppliers for Vietnam were still African countries. However, there is a huge risk for Vietnamese businesses that the transaction method and transportation distance from Africa to Vietnam are too far. Our orientation at that time was to move raw materials to Cambodia, which was close, shared the border, and made payment easier.” Vietnam grew its agricultural export turnover thanks to the raw material area from Cambodia. At that time, the cashew growing area in Cambodia at its peak reached 300,000 ha, but due to unstable raw cashew prices and weak production organization, the area was reduced to just ...

Source: Vinacas