Cashew prices have risen by 30% in Cambodia

In Cambodia the price of fresh cashews has jumped by about 30 percent over the price last year after the industry experienced shortages and the fact that the harvest will not get into full swing until early next month.

A lack of investment in technology to process the cashews has also been partly blamed for the price hike.

Oum Uon, the president of a cashew nut association in Kampong Thom province, said fresh cashew prices had risen to about 8,500 riel (about $2.12) per kilo, compared with 6,500 riel ($1.60) per kilo last year.

Mr. Uon also said the yield for cashews this year would be less than the previous year because of unfavorable weather. This pushed up prices.

On Monday, representatives from the South Korean firm, Hwashin Construction, met Agriculture Minister Veng Sakhon to discuss potential investments of about $200 million on cashew nut exports and the development of irrigation systems in Cambodia.

Source: khmertimeskh.com