News detail

Rubber Growth Causes Rise in Cashew Prices

News detail:

The price of cashews has increased by as much as 70 percent during this year’s harvest, as supply has been reduced by bad weather and the conversion of cashew fields into rubber plantations, traders and agricultural officials said. In Ratanakiri province, cashews are being sold at 6,000 riel, or about $1, 50, per kilogram, compared to the 3,500 riel during the same period last year, said a cashew trader in Banlung City.

 

The attraction of high rubber prices has also caused farmers to seek profit by switching production to rubber, he said. Like cashews, rubber prices on the Cambodian market have increased 70 percent year-on-year due to reduction in supply in Thailand and high demand in China.

Soy Sona, director of Ratanakiri province’s agriculture department, said that there were about 18,000 hectares of cashew fields in the province but that the amount replaced by rubber was not large. Sim Tharavak, Kampong Cham province’s deputy director of agriculture, said there were about 27,000 hectares under cultivation for cashews, an amount that is expected to decrease.

Source institution:

The Cambodia Daily, March 02, 2011, page 27, by Hul Reaksmey

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Post date:

2011-08-23