After two negotiation meetings coordinated by USAID Greening Prey Lang between cashew farmers from two agriculture cooperatives (ACs), Mean Rith and Tum Ring in Kampong Thom province, and Madam Lai Hout Enterprise, an agreement for the first purchases of cashews was reached on Monday.
Under the agreement, Madam Lai Hout Enterprise agreed to purchase cashews at KHR 300 (US$0.075) per kilogramme above market price from 63 farmers from the two agriculture cooperatives, according to a USAID’s news release.
“So far, 97 tonnes of cashews have been supplied to Madam Lai Hout,” the same source added.
When farmers have established links to buyers for their agricultural products, they don’t have to worry if their products will be sold or prices will be low, said the release, underlining that with contracted buyers and steady prices, farmers’ income increases, reducing the need to exploit natural resources for their livelihood.
In the first five months of 2021, Cambodia exported 0.80 million tonnes of cashew nuts to international markets, up 610,559 tonnes compared to the same period a year earlier.
Cambodian cashew nuts are now known to have a wide market as well, with most of the exports to neighbouring countries, and the rest to Korea, Japan, China, Europe, etc.
Source: Agency Kampuchea Press