Cambodia earns $3 billion from agricultural products exports in first 10 months

Cambodia earns $3 billion from agricultural products exports in first 10 months


Cambodia exported 7.62 million tons of agricultural products in the first 10 months of 2022, earning $3.07 billion in revenue, according to a report released by the Ministry of Agriculture, Forestry and Fisheries (MAFF) on Saturday.

Main products Cambodia exported included rice, bananas, mangoes, cassava, cashew nuts, corn, palm oil, pepper and tobacco, among others, the report said, adding that China is one of the key buyers of the kingdom’s products.

Cambodian Minister of Agriculture, Forestry and Fisheries Dith Tina said Cambodia and China have solid agricultural cooperation as Cambodia has enjoyed exporting milled rice, bananas, mangoes and, most recently, longans to China.

“I am confident that we can grow this relationship even more in the years to come,” he told Xinhua in a recent interview. “The Chinese market still has much potential to absorb more Cambodian agricultural products and neither country has yet used the maximum potential in this sector.”

Tina said the Regional Comprehensive Economic Partnership (RCEP) trade deal and the Cambodia-China Free Trade Agreement (CCFTA), which both entered into force earlier this year, have injected new impetus into the development of Cambodia’s agriculture.

“Both free trade agreements will contribute to not only the agriculture sector’s growth but also the farmers’ welfare and prosperity,” he said.

Agriculture is one of the four pillars supporting Cambodia’s economy. The sector contributed 24.4 percent to the gross domestic product (GDP) in 2021, according to the ministry.

Rice is the main cash crop in the Southeast Asian nation, where some 12.2 million tons of paddy rice was produced in 2021, an increase of 11.6 percent year-on-year, it said.

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Author: Xinhua

Source: Khmer Times

Publication date: 20 November 2022