Cambodia’s Agricultural Exports Smash $4.18 Billion: Why Smart Investors Are Looking at Cassava, Cashew, and Mango Right Now

Cambodia is having a moment. The country ships over 11.89 million tonnes of agricultural products to 78 countries around the world. In just the first ten months of 2025, these exports generate more than $4.18 billion in revenue. The numbers keep climbing. Dried fruit export volumes surge 6,500%. Rice exports are on track to hit a historic one million tonnes in 2026. Cashew revenue reaches $1.75 billion in the first half of 2026 alone. These are not projections. These are verified figures from the Ministry of Commerce, the Council for the Development of Cambodia, and international trade bodies.

For investors who pay attention to Southeast Asia, this data tells a clear story. Cambodia is no longer just a garment factory hub. It is a serious agricultural powerhouse with room to grow. The question is no longer whether Cambodia’s agriculture is worth watching. The question is where the best opportunities sit right now, and how fast you need to move.

The Big Picture: $9.77 Billion Agricultural Economy

Agriculture accounts for roughly 22% of Cambodia’s GDP and employs over 30% of the workforce. In 2025, the sector generates $9.77 billion in total economic value, according to the Ministry of Agriculture, Forestry and Fisheries. This is a sector that touches every province, every farming community, and every supply chain in the country. The government targets 60 modern agricultural communities by the end of 2026, with upgraded irrigation, better seed distribution, and direct market linkages.

What makes this important for investors is the growth trajectory. Cambodia’s agricultural output grows 5.3% in 2025, outpacing the overall GDP growth rate of 5.5%. The European Union commits nearly €80 million to modernize the sector. The Asian Development Bank and the World Bank continue to fund rural infrastructure. These are not small pilot programs. This is structural investment that changes how food moves from farms to international markets.

Cashew: Cambodia’s Quiet $1.5 Billion Goldmine

Cambodia is now the world’s second-largest producer of raw cashew nuts. In 2024, output reaches 850,000 tonnes, a 26% increase from the previous year. In 2025, production crosses one million tonnes and generates $1.5 billion in export revenue. In the first half of 2026, raw cashew exports bring in $1.75 billion, with Q1 2026 alone reaching $358 million, a 22% jump from the same period in 2025.

Vietnam buys approximately 90% of Cambodia’s raw cashew output. This creates a massive opportunity for investors who set up processing facilities inside Cambodia. Right now, Cambodia ships raw nuts across the border. Vietnam processes them, adds value, and exports the finished product at a significant markup. If you build a cashew processing plant in Phnom Penh, Sihanoukville, or any of the 65 approved Special Economic Zones, you capture that value yourself.

The government actively encourages this. The Cashew nut Association of Cambodia and the Ministry of Commerce promote investment in processing plants as a key driver for the cashew value chain. Tax incentives under the 2021 Law on Investment cover up to nine years of benefits for agricultural processing. The CDC approves special incentive packages for agri-industrial projects in the northeast provinces. The infrastructure is ready. The raw material is plentiful. The demand is global.

Cassava: The Commodity That Refuses to Slow Down

Cassava is Cambodia’s largest agricultural export by volume. The country earns $646 million from cassava exports in 2025. Fresh cassava exports total 3.1 million tonnes. But the real story is in the shift toward processed products. Dried cassava exports rise 60.91% in the first ten months of 2025. Cassava flour exports surge 82.59% over the same period. The cassava processing market reaches 991,900 tonnes in 2025 and is on track to hit 1,232,300 tonnes by 2034, according to IMARC Group.

Global demand drives this shift. Cassava is a critical input for animal feed, bioethanol, and food manufacturing. China, Thailand, and Vietnam are the main buyers, but European and African markets are expanding. Cambodia’s cassava production is set to reach 18.2 million metric tonnes by 2026, growing at 3.3% year-on-year. Fresh cassava prices rebound to over 300 riel per kilogram since early 2026, recovering from a two-year decline. This price recovery makes the economics of cassava processing even more attractive.

For investors, the opportunity is straightforward. Build a cassava drying or flour milling facility. Secure supply contracts with local farming cooperatives. Export to China under RCEP preferential tariffs. The CDC lists cassava processing as a priority sector. Financing tools now cover up to 80% of export invoice values, reducing the working capital burden.

Rice: On Track for One Million Tonne Milestone

Cambodia exports 940,321 tonnes of milled rice in 2025, a 45% year-on-year increase, with a total export value of $602.41 million. In the first seven months of 2026, the country ships 707,471 tonnes, marking a 68% surge compared to the same period in 2025, according to S&P Global. At this pace, Cambodia is on track to cross the historic one million tonne milestone for the first time in 2026.

China is the largest single market, accounting for roughly 40% of all rice exports. Rice exports to China surge 68% in the first seven months of 2026. The European Union takes

about 30%, and ASEAN countries account for 12%. Notably, the EU is shifting orders from Vietnam to Cambodia due to concerns about agrochemical residues in Vietnamese milled rice. This creates a premium opportunity for Cambodian rice producers who meet EU safety standards.

Sixty-one rice companies currently export to 63 destinations worldwide. The Philippines is emerging as a key growth market. Cambodia’s rice competes on quality and price, not just volume. For investors, this means opportunities in rice milling, packaging, cold chain logistics, and branded export operations.

The Numbers: Cambodia’s Top Agricultural Exports at a Glance

Commodity	2025 Revenue	Key Growth Metric	Top Market
Cashew (raw)	$1.5 billion	$1.75B in H1 2026	Vietnam (90%)
Cassava	$646 million	Dried +61%, Flour +83%	China, Thailand
Rice (milled)	$602 million	Exports +68% in H1 2026	China (40%), EU (30%)
Banana	$148 million	+20% growth	China
Mango, Longan, Others	$400M+ combined	Dried fruit +6,500% volume	China, ASEAN, EU

Source: Cambodia Ministry of Commerce, S&P Global, Khmer Times, Kampuchea Thmey (2025-2026)

Trade Agreements Give Cambodia an Unfair Advantage

One of the most compelling reasons to invest in Cambodian agriculture is the web of trade agreements that give the country preferential access to the world’s largest markets. The Regional Comprehensive Economic Partnership, or RCEP, accounts for roughly 61% of Cambodia’s total trade in 2025, making it the country’s largest trading bloc. Under RCEP, tariffs on 87% of imported goods are reduced or eliminated, and 92% of goods will be tariff-free over the next 20 years.

The Cambodia-United States Reciprocal Trade Agreement, signed in October 2025, is another game changer. Cambodia eliminates tariffs on 100% of U.S. industrial goods and agricultural products exported to Cambodia. In return, the U.S. maintains a 19% reciprocal tariff rate. This opens doors for two-way agricultural trade and technology transfer.

ASEAN is now virtually tariff-free, with 98.86% of products enjoying zero tariffs under the ASEAN Trade in Goods Agreement. Cambodia is also exploring a free trade agreement with the Eurasian Economic Union, which would open markets across Russia, Kazakhstan, Belarus, and beyond. These agreements do not just reduce costs. They create a stable,

predictable trade environment that makes long-term investment planning possible.

The Processing Gap: Where Smart Money Goes Next

Here is the number that should excite every serious investor. Cambodia currently exports mostly raw, unprocessed agricultural products. Over 90% of cashew nuts leave the country raw. Most cassava ships as fresh root or dried chips. The majority of mango and longan exports are unprocessed fresh fruit. This means the value-added processing layer is almost entirely missing. And that missing layer represents the single largest investment opportunity in Cambodian agriculture today.

The government recognizes this gap and is actively pushing to close it. In January 2026, the Ministry of Agriculture sets an ambitious path to attract new investment in rice milling, cashew and cassava processing, fruit drying, packaging facilities, and cold-chain logistics. The U.S. International Trade Administration identifies nine strategic agricultural commodities for investment: rice, cashews, rubber, cassava, mangoes, bananas, peppercorn, longans, and durians.

The financing infrastructure is also catching up. A mango exporter with a shipment worth $100,000 can now access $80,000 immediately through new export financing tools. This kind of working capital support reduces risk and speeds up the cash cycle for agribusiness operators. The EU commits €80 million to modernize the agricultural sector. The International Fund for Agricultural Development runs inclusive agricultural growth programs. These programs are designed to help businesses, not just farmers.

East Asia Forum notes that developing value-added industries like packaging and food processing remains a significant underexplored opportunity. Research from IFAD estimates that an additional $250 million per year is needed to move food to markets efficiently, with a focus on reducing food loss for vegetables and perishable fruits. This is infrastructure investment with a clear return.

Investment Incentives: What the Government Offers

Cambodia’s 2021 Law on Investment is one of the most competitive in Southeast Asia. The Council for the Development of Cambodia lists 19 sectors and activities entitled to investment incentives, and agriculture-supporting industries sit near the top of that list. Tax incentives span three, six, and nine years depending on the project type and location.

Qualified Investment Projects receive income tax exemptions, import duty exemptions on construction materials and production equipment, and value-added tax exemptions. Projects located in Special Economic Zones receive additional benefits including streamlined customs procedures, on-site utilities, and simplified licensing. Cambodia has approved 63 SEZs, with 39 currently in operation.

For agricultural investors specifically, the government offers special incentive packages for projects in northeastern provinces, where land costs are lower and agricultural potential is

highest. The CDC approved six projects worth approximately $83 million in the northeast in a single recent round. The Government-Private Sector Forum provides a direct channel for investors to raise issues with senior government officials and get real solutions.

What This Means for You as an Investor

Let me be direct. Cambodia’s agricultural sector is at an inflection point. The raw export numbers are strong and getting stronger. The trade agreements are in place. The government incentives are competitive. The processing gap is wide open. And the global demand for food, animal feed, and sustainable commodities is not going anywhere.

If you are an investor looking at Southeast Asia, you need to look at Cambodia’s agriculture right now. Not next year. Not after someone else builds the first major cashew processing plant. Now. The early movers in cassava milling, cashew processing, fruit drying, and cold-chain logistics are the ones who capture the highest returns.

Start with a feasibility study. Contact the CDC or the Ministry of Commerce. Visit the SEZs in Phnom Penh, Sihanoukville, or Bavet. Talk to the Cashew nut Association of Cambodia. Look at the financing tools available through the Ministry of Economy and Finance. The data is public. The door is open. The only question is whether you walk through it.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. All data is sourced from public authorities and verified news outlets. Investors should conduct their own due diligence before making any investment decisions.