Cambodia opens first cashew nut plant
Friday, 10 December 2010
PHNOM PHEN, Dec 9 (Commodity Online): Cambodia opened its first cashew nut processing plant to boost a growing industry that could create thousands of jobs.
Cambodia's Mekong Rain Natural is set to invest $5 million to build the plant, which it hopes will start production in March next year.
The plan has been welcomed by the government and industry insiders, who say it would help grow the industry and create jobs.
That view is supported by a new study from the International Finance Corporation, which found that local processing could boost the industry by an additional $30 million to $40 million a year.
Andrew McNaughton, chief executive officer of Mekong Rain Natural, which buys from nearly 4,000 farmers, said the company decided to invest in the plant.
Cambodia's Mekong Rain Natural is set to invest $5 million to build the plant, which it hopes will start production in March next year.
The plan has been welcomed by the government and industry insiders, who say it would help grow the industry and create jobs.
That view is supported by a new study from the International Finance Corporation, which found that local processing could boost the industry by an additional $30 million to $40 million a year.
Andrew McNaughton, chief executive officer of Mekong Rain Natural, which buys from nearly 4,000 farmers, said the company decided to invest in the plant.