The Cambodian Cashew Association and the Cambodian Cashew Federation on Tuesday signed two memorandums of understanding with the Cambodian Hotel Association at the Ministry of Commerce.
The signing ceremony was presided over by Cham Nimman, Minister of Commerce, and was attended by leaders and officials from the ministry, as well as executives from Mart Supermarkets and Cashew Enterprises.
According to a press release from the Ministry of Commerce, the memorandum of understanding relates to “cooperation on promoting the use of Cambodian cashew products.”
During the ceremony, two memorandums of understanding were signed: one between Mr. Hy Sothea, President of the Cambodian Hotel Association, and Mr. An Dara, President of the Cambodian Cashew Federation; and the other between Mr. Hy Sothea and Mr. Oun Silott, President of the Cambodian Cashew Association.
The Cambodian Hotel Association has committed to purchasing cashew nuts over three years with an annual requirement of 250 tonnes, of which 210 tonnes will be used for processing into food, pastries and beverages, while 40 tonnes, equivalent to 400,000 packages, will be sold as packaged cashew nut products for minibars and hotel rooms.
“The main objective of this cooperation is to promote the use of cashew nuts in the hospitality sector, promoting the processing, consumption and distribution of Cambodian cashew nuts,” the press release said.
Mr. Oun Silout, president of the Cambodian Cashew Nut Association, told the Khmer Times that the memorandum of understanding is highly beneficial and will help boost domestic sales and consumption by making the process easier.
“We are actively promoting domestic sales and consumption,” he said, adding that the Ministry of Commerce is supporting us by helping to promote and sell our cashew nuts at airports, supermarkets and now through partnerships with the Cambodian Hotel Association, the Cambodian Restaurant Association and the Cambodian Chefs Association.”
“We must do everything we can to promote our cashew nuts locally. While foreign markets are important, we must also prioritize and increase the consumption of our products in the domestic market,” he added.
According to the Cambodian Cashew Association, from January to October 2024, Cambodia produced 840,000 tons of cashew nuts, up 26 percent from the previous year.
Of this, more than 790,000 tons were exported to Vietnam, generating revenue of 1.110 billion VND, up 36 percent. In addition, the price of cashew nuts increased by 9 percent compared to the same period in 2023.
