Cambodian cashew prices see slight drop in May

Cashew nut prices in Cambodia seem to have fallen slightly at the end of harvest season compared to March this year, according to the cashew nut association in Kampong Thom province. 

Association president Oum Uon said prices for raw cashew nuts dropped from 7,000 riel ($1.75) per kilo in March to about 6,000 riel ($1.50) in May.

Processed cashew nuts are selling from $15 to $17 per kilogramme, with prices higher in Cambodia than in export markets, he added. Mr Uon said only South Korea and Japan were the current export markets for his association.  

“The 20 members of my association could purchase up to about 15 tons of cashew nuts this year for sale domestically and for export,” Mr Uon said.

“However, the demand of the Korean and Japanese markets is up to 100 tons per year.”

Say Mengly, director of Solar Phum Yeung and Cashew Plant at Kampong Thom province said that the price was hike due to the high demand from Vietnam. He said that this year, he purchased to about 300 tons which is double amount compared to last year while the price was $2 per kilogram.

“The price of cashew nuts was $2 per kilogramme in March, but now it was about $1.5 per kilogramme,” he said.

“Historically the price of cashew nuts in Cambodia reaches $2 or $2.5 per kilogramme.”

Source: khmertimeskh.com