According to a recent report by the Cambodia Rice Federation (CRF), Cambodia has earned $917.37 million from the exports of rice and paddy in the first seven months of this year. The report shows that paddy exports accounted for $663.51 million, while milled rice exports reached $253.86 million during this period.
One of the key factors contributing to this increase in earnings is the halt in rice exports from India. Since India stopped its rice export, the price of rice and paddy has risen by approximately 20%, which has brought great satisfaction to local farmers.
However, even without the India export ban, the price of rice and paddy exported to the international market has been increasing steadily each year, with a 4-5% increase this year before the ban.
The report further reveals that Cambodia has exported nearly 52% of its planned export of 700,000 tons of milled rice. So far, the country has exported 362,708 tons of rice to 52 different destinations. The top destinations for Cambodia’s rice exports include Europe, mainland China, and its autonomous regions.
It is worth noting that out of the 2,498,586 tons of paddy exported by Cambodia, only 60% went through the formal process with documents from competent authorities. The report highlights the importance of controlling informal exports to Vietnam and the need to strengthen the export volume to ensure a stable supply chain for local rice mills until the harvest season in November.
Lun Yeng, Secretary General of the CRF, mentioned that Vietnam, a neighboring country with a large population, has increased its purchase of milled white rice from Cambodia. This surge in demand from Vietnam is a result of India’s ban on milled non-basmati rice, which caused a rice shortage in Vietnam.
Meanwhile, a business expert, who preferred to remain anonymous, stated that India’s new policy has affected the price of paddy and rice in many countries worldwide. However, he noted that Cambodia’s paddy and milled rice, known for their good quality, are becoming more attractive to countries that previously depended on India for rice imports.
These recent developments in Cambodia’s rice and paddy exports signify a positive trend for the country’s agricultural sector. With increasing demand and higher prices, Cambodian farmers and rice mills can anticipate a boost in income and investment opportunities.
Sourec: Khmer Times
