Agriculture Value Chain Development
Agriculture Value Chain Development
Business Model Description
Invest in: > B2B digital platforms and aggregators or brick-and-mortar models, offering products and services, linking producers to buyers, to improve sourcing, quality control, market linkages and overall traceability. > Standalone business models offering logistics or cold-storage facilities.
Azaylla Cambodia Co. Ltd. (Azaylla), founded in 2019, is a B2B aggregation company engaged in distribution of both fresh and non-fresh agricultural products through a network of e-commerce and independent grocery retailers, alternative channels (industry and export), and food service locations. In 2021, Azaylla raised an investment (minority stake) in a venture round from Uberis Capital Ltd.(13)
Royal Government of Cambodia's (RGC) initiatives: > Khmer Agriculture Suite (KAS): An open digital platform for agricultural value chains by harnessing the power of emerging technology and innovation to address main challenges in productivity and distribution.
RGC's initiatives: > CamAgriMarket mobile application: The aim of the Agricultural Marketing Information Service (AMIS) is to improve agricultural stakeholders’ ability to access, gather, analyze and use information to better respond to market needs.
Expected Impact
Efficient agriculture value chains to develop an organized and streamlined structure to address issues of post-harvest losses and import dependence
How is this information gathered?
Investment opportunities with potential to contribute to sustainable development are based on country-level SDG Investor Maps.
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Country & Regions
- Cambodia: Kandal
- Cambodia: Pursat
Sector Classification
Food and Beverage
Cambodia ranked 67th for SDG 2 in the Sustainable Development Report. While performance against this Goal has improved, major challenges persist. (1) ~14.6% of Cambodia’s population lacks adequate nutrition. (2) In 2014, 32.4% of Cambodian children under-5 were stunted (low height-to-age ratio), which is very high based on WHO/UNICEF prevalence thresholds. (3)
National Strategic Development Plan, 2019–2023 includes targets for enhancing the infrastructure for agricultural research, supporting strengthening agricultural cooperatives and developing agribusiness networks, and pre- and post-harvest technology development. It also aims to increase export of processed agricultural products from 10% to 12% of total exports by 2025. (4)
Despite 54% of population engaged in this sector, agriculture represents only 32% of total GDP in 2020 (5) The agriculture sector is dominated by small landholders and MSMEs, that are highly impacted by economic recession, and would take longer to overcome the economic impacts of Covid-19.
Covid-19 has impacted Cambodia’s food security (which showed signs of improvement in recent years with real income growth and volume increases in rice and other crop production), primarily since the consumers are unable to afford sufficient and diverse food. (7)
Diet quality of pregnant women and children under-5 remains inadequate and incidence of obesity, especially among women of child-bearing age, has increased. (8) Stunting is prevalent in households with poor sanitation. Children in rural areas are more likely to be stunted than children in urban areas. (7)
Poorest households, including landless, female-headed, with disabled family members, or households of ethnic minorities and/or living in the most remote and marginalized areas, suffer the most when localized or seasonal food deficits occur. (7)
~77% of rural households rely on agriculture, fisheries, and forestry for their livelihood. (6) In 2020, agriculture sector contributed 22.38% towards Cambodia's gross domestic product (GDP) indicating opportunities for investments and scale in this sector. (7)
Fragmented smallholding by farmers, low productivity and inefficient logistics, are some of the key challenges in Agro-food sector. Infrastructure and services for processing and exporting food products are inadequate, resulting in outsourcing of maximum food-processing to neighboring countries.
Food and Agriculture
Covid-19 resulted in food losses and wastage [51.9% MSW is from food waste (8)] due to transport route blockages, and limited cold supply chain solution.(6) Food security improved in quantity, but to achieve food security in quality, higher food safety and nutrition are required. In 2016, Cambodia’s Food Security ranked 89th (Thailand was 51st and Vietnam was 57th).(9)
Rectangular Strategy Phase IV
Recovery plan focuses mainly on boosting agricultural productivity growth, strengthening competitiveness in terms of both costs and quality, modernizing supporting infrastructure in the supply chain of agricultural products, promoting processing of agricultural products, promoting seed industry and maximizing the benefits of free trade agreement. (10)
Due to a weak supply-chain, farmers are forced to sell their produce at low-prices, adversely impacting their income.
Food security and agri-food supply chain have been adversely impacted due to border closures and trade restrictions imposed for limiting the spread of Covid-19.
Accessibility to food sources has also been limited due to job losses, income reductions, food price increases and local food availability, rendering the already vulnerable communities (especially low and middles-income households) in a precarious position. (6)
~80% Cambodians live in rural areas, with the majority depending on agriculture and a large proportion of small-scale farmers own fewer than 0.5 hectares. This proportion of landholdings provide less than half of the nutritional needs of a typical rural family. 10% Cambodian rural families are entirely landless.
The issue of near landlessness and landlessness may result from the large scale of unprecedented economic land concessions (ELCs) affecting indigenous communities and rural farmers, which the government focused on in the 2000s before the COVID-19 pandemic. To date, the government has granted of a total of 1,178,646 hectares of land in 19 provinces as ELCs. (11)
Digital platforms can support the farmers in strengthening the agricultural value chains to achieve their full potential. A study conducted by Centre for Policy Studies shows that ~92% of the agricultural input suppliers in Cambodia use digital payments in their businesses, while 45% use e-commerce. (12)
The fragmented structuring of agricultural value chains is a result of high logistic costs and a lack of equipment and skills. Substantial effort (money and time) is required for educating farmers to use digital platforms offering supply chain assistance.
Pipeline Opportunity
Agriculture Value Chain Development
Invest in: > B2B digital platforms and aggregators or brick-and-mortar models, offering products and services, linking producers to buyers, to improve sourcing, quality control, market linkages and overall traceability. > Standalone business models offering logistics or cold-storage facilities.
Azaylla Cambodia Co. Ltd. (Azaylla), founded in 2019, is a B2B aggregation company engaged in distribution of both fresh and non-fresh agricultural products through a network of e-commerce and independent grocery retailers, alternative channels (industry and export), and food service locations. In 2021, Azaylla raised an investment (minority stake) in a venture round from Uberis Capital Ltd.(13)
Royal Government of Cambodia's (RGC) initiatives: > Khmer Agriculture Suite (KAS): An open digital platform for agricultural value chains by harnessing the power of emerging technology and innovation to address main challenges in productivity and distribution.
RGC's initiatives: > CamAgriMarket mobile application: The aim of the Agricultural Marketing Information Service (AMIS) is to improve agricultural stakeholders’ ability to access, gather, analyze and use information to better respond to market needs.
Business Case
Market Size and Environment
> USD 1 billion
77% rural households rely on agriculture (14) [22% of GDP (2020) (7)] Post harvest loss-45% (15)
World Bank Data Study from 2021 showed that the agriculture market represent ~USD 36 bn in Cambodia. Considering that supply chain and distribution services and products are at an early stage, the expected market size would be ~USD 1 bn in the years to come. (16)
In 2022, United States Agency for International Development (USAID) announced that it will partner with Khmer Cold Chain Co. Ltd. (KCCC) and Amru Rice (Cambodia) Co. Ltd., for investing USD 2 mn in cold chain infrastructure and storage capacity for agricultural products and logistics purposes in Cambodia. (17)
USAID's partnership with Cambodian firms will help reduce their financial risk, such that they can test and promote successful solutions and inspire investment in agriculture to increase regional and international trade integration. (18)
Indicative Return
20% - 25%
> 25%
Players like Azaylla offer a commercially proven business model that can scale to meet Cambodia’s plan to become a middle-income economy by 2035. (13) As per expert consultations, Azaylla was able to scale up from 2 tons to 15 tons per month of fresh produce in merely 6 months.
Meat demand is expected to increase to 300,000 tons annually by 2030. However, only ~20% of this national demand is presently met through formal domestic supply chains (i.e., from a slaughterhouse onwards) due to insufficient cold-storage facilities. (6)
Agriculture contributes ~15% to Cambodia's total trade costs (comprising transportation and travel expenses) for efficient good flow. (19)
Investment Timeframe
Medium Term (5–10 years)
Since businesses have a vast market gap to fulfil, new stakeholders entering the market can build on the lessons learnt by existing stakeholders, and reach their potential returns within 5-10 years.
As per expert consultations, Azaylla was able to scale up from 2 tons to 15 tons per month of fresh produce in merely 6 months through their distribution network comprising retail, industry and exports channels.
Other firms have also been successful in raising funding in the market. (13 and 20)
Ticket Size
USD 1 million - USD 10 million
Market Risks & Scale Obstacles
Capital - CapEx Intensive
Market - Volatile
Business - Supply Chain Constraints
Business - Supply Chain Constraints
Impact Case
Sustainable Development Need
Need to develop economical logistics necessary to deliver farm produce to aggregation points (scattered around the country) without spoilage. Currently, post-harvest losses are ~45% in value chains like fruits and vegetables. (15)
Efficient supply chain management is required for ensuring that goods flow in a free and timely manner, promoting more vibrant trade interactions. If agriculture value chain lacks traceability, it disallows meeting standards and certifications needed for premium local and export markets. (19)
Utilize private capital to reduce import burden by establishing efficient supply chain infrastructure and allowing farmers to access customers across the country. Currently, ~70% of fruits and vegetables are imported from Vietnam for domestic consumption. (13)
Gender & Marginalisation
Developing a secure, temperature-controlled supply chain (cold storage) and logistics capabilities for agriculture will help address market system barriers to import-export opportunities, focusing on improving market access for smallholder farmers and woman- and youth-owned businesses. (18)
Most smallholder farmers suffer from low incomes and are very sensitive to price volatility. Digital or offline platforms offering supply chain solutions can ensure that farmers get better prices for their goods, can access international markets and earn a stable income. (18)
Providing farmers with value-added services, including quality control, financing, logistics, packaging and branding, can enable Cambodian producers to participate in both, domestic and international markets, whilst ensuring that consumers get access to high quality products. (13)
Expected Development Outcome
Advance the country's economic competitiveness and inclusiveness by addressing gaps in the agricultural sector's supply chain (18) and tackle market system barriers that diminish import and export opportunities. (17)
Increase the traceability of agriculture value chains, and ensure efficient market linkages and organised distribution channels, to help reduce risk of mismatch between demand and supply, especially for fresh food, decrease post-harvest losses and support smallholder farmers raise income level.
Support local food systems with efficient and fair supply chains to address local economic growth priorities. (13)
Gender & Marginalisation
Investments in decentralized cold storage and logistics network, especially for the vegetable supply chain, can enable smallholder farmers to deliver high-quality produce to domestic and international markets, improve food security, increase incomes, and reduce reliance on imports. (18)
Expand Cambodia's economic development for rural households that are vulnerable to food insecurity because of limited access to formal markets within Cambodia and beyond. (18)
Provide improved access to markets for women farmers to support them in increasing sales and the level of income, thereby uplift the quality of life for rural communities. This can also help in generating job opportunities within the agricultural sector in Cambodia. (18)
Primary SDGs addressed
2.2.2 Prevalence of malnutrition (weight for height >+2 or <-2 standard deviation from the median of the WHO Child Growth Standards) among children under 5 years of age, by type (wasting and overweight)
2.3.2 Average income of small-scale food producers, by sex and indigenous status
2.1.1 Prevalence of undernourishment
2.1.2 Prevalence of moderate or severe food insecurity in the population, based on the Food Insecurity Experience Scale (FIES)
Prevalence of malnutrition in 2018 is 8% (23) The value of agricultural production per unit of labor engaged in agriculture (farming, animal husbandry and fisheries) is USD 1,555 in 2015. (23) 6% of population in 2019 (24) 44.8% of population in 2019 (25)
Prevalence of malnutrition in 2030 is <5% (26) The target value of agricultural production per unit of labor engaged in agriculture (farming, animal husbandry and fisheries) is USD 3,755 by 2030. (26) 0 in 2030 (26) Information not available as of May-2022
Secondary SDGs addressed
Directly impacted stakeholders
People
Gender inequality and/or marginalization
Planet
Corporates
Public sector
Indirectly impacted stakeholders
People
Gender inequality and/or marginalization
Planet
Corporates
Public sector
Outcome Risks
Profit motive may induce businesses to sell fresh produce in Phnom Penh to gain higher returns, limiting the supply to other regions for local consumption.
The success of digital models depends on efficient internet connectivity and digital capabitilites of the end user . Currently, only ~10-20% of the farming community has access to a smartphone to use sophisticated digital solutions. (27)
Farmers in some regions may adopt mono-crop production patterns leading to excess supply of one crop and scarcity of others.
Gender inequality and/or marginalization risk: In the absence of sufficient regulations / controls especially geared to resolving information asymmetries among farmers, protection their rights, farmers maybe exposed to exploitation.
Impact Risks
Farmers often borrow money from local middlemen to expand their business and increase yields, which burdens them to sell their harvest at very low prices, resulting in losses.
Efficiency of operations would be impacted in case of a conflict or fraudulent activities by existing players (middlemen) in the market.
If the benefits of the model do not expand across Cambodia, it will reinforce the existing regional and income disparities in the country.
Gender inequality and/or marginalization risk: Inability of business model to include women as part of the product/service design may exclude a significant proportion of smallholder farmers.
Impact Classification
What
Efficient supply chain management for agriculture and allied activities as a means to increase farmers' income, reduce food wastage and improve food security.
Risk
Success of digital models will depend upon the efficiency of internet connectivity; Unaffordability of services may restrict farmers from utilizing the services offered.
Contribution
Businesses like Azaylla work closely with farmers to address a range of day-to-day challenges, including uncertain market demands and yields that lag behind neighboring countries.(28)
Impact Thesis
Efficient agriculture value chains to develop an organized and streamlined structure to address issues of post-harvest losses and import dependence
Enabling Environment
Policy Environment
Master Plan for Crop Productions in Cambodia 2030: aims at a transformation to modern agricultural system capable of generating high value added through the development of agroindustry and agribusiness, by improving supply chain management from input use to production techniques. (29)
Recovery Plan 2020-2023: focuses on boosting agricultural productivity growth, modernizing supporting infrastructure in the supply chain of agricultural products, promoting processing of agricultural products, promoting the seed industry and maximizing the benefits of free trade agreements. (30)
Cambodia’s Climate Change Strategic Plan, 2014–2023. promotes proper agriculture technology usage.(31)
Financial Environment
Financial incentives: New Investment Law allow for deduction of expenses at the rate of 150% related to, among other things, research, development, innovation and human resource development.
Fiscal incentives: New Investment Law 2021 Tax on Income exemption between three to nine years subject to the specific investment sector and activities.
Other incentives: New Investment Law 2021 Investor is eligible for the deduction of certain expenditure, including capital depreciation and deduction of certain significant expenses at the rate of 200% for a duration of nine years.
Regulatory Environment
Sub-decree on Contract Farming 2011: defines the implementation framework for contract-based agricultural production in Cambodia (32)
Law on Agricultural Cooperative 2013. Union of agricultural cooperatives conduct economic activities among members within the framework of agricultural production, agro-industry, agri-business, or services related to agricultural production (33)
Law on Agricultural Cooperative 2013. Perform agricultural marketing and market needs assessment; supply collectively agricultural inputs; and provide any information which serves production and transaction of its members. (33)
Marketplace Participants
Private Sector
Corporates: Azaylla Cambodia Co. Ltd., Auskhmer Import Export Co., Ltd., Khmer Agriculture Suite, Khmer Cold Chain Co. Ltd., Amru Rice (Cambodia) Co. Ltd. Investors: Uberis Capital Ltd., Worldbridge International (Cambodia) Ltd, United States Agency for International Development
Government
Ministry of Rural Development, Ministry of Agriculture Forestry and Fisheries, Techo Start-up Centre (TSC), Ministry of Economy and Finance
Multilaterals
United States Agency for International Development, French Development Agency, Cambodia-Australia Agricultural Value Chain Program, International Fund for Agricultural Development, Czech Development Agency
Non-Profit
Farmers and Nature Net Association, Agrisud, Oxfam (BlocRice), People In Need, NGO Forum on Cambodia, Deutscher Genossenschafts- und Raiffeisenverband (cooperative supply chains)
Public-Private Partnership
Cambodia Partnership for Sustainable Agriculture, United States Agency for International Development through partnership with Khmer Cold Chain Company and Amru Rice
Target Locations
Cambodia: Kandal
Cambodia: Pursat
References
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