Home » Cambodia Earmarks $100 Million for Sustaining Agricultural Prices

Cambodia Earmarks $100 Million for Sustaining Agricultural Prices

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In a strategic maneuver geared towards achieving financial equilibrium in its agrarian sectors, the 7th mandate of the Royal Government of Cambodia has allocated a remarkable $100 million. This reserved budget is primarily intended for critically needed interventions in agriculture to balance prices that frequently oscillate due to global market pressures.

Prime Minister Hun Manet unveiled this budget during the inauguration ceremony of the Kirisu Dairy Farm in Bati District, Takeo Province. Such a crucial step underscores the government’s intention to enhance stability within the country’s agricultural landscape.

It’s not uncommon for agricultural prices to experience turbulence, which often puts significant strain on farmers. Understanding this, the Premier reassured that the Royal Government remains dedicated, particularly the Ministry of Agriculture, Forestry and Fisheries, to take all essential measures to stabilize these prices.

Dr. Hun Manet highlighted the pivotal position the agricultural sector occupies in the economy of Cambodia. With this in mind, the Royal Government is steadfast in its intention to promote the production of superior quality products. Furthermore, it aims to sustain a balance in agricultural markets, paying particular attention to key strategic crops.

In recognition of the initiative, Prime Minister Hun Manet extended his gratitude to Khmer Fresh Milk Co., Ltd., along with other companies for their efforts in investing in the production of fresh milk for the Cambodian market.

At present, Cambodia is home to four dairy farms that collectively house approximately 1,200 dairy cattle. These entities produce a total of 13,000 liters of fresh milk every day. Impressively, these four farms can meet around 17 percent of the total national dairy demand, which stands at 300,000 liters annually.

Dr. Hun Manet concluded by sharing that, on an annual basis, Cambodia must import approximately 98,000 tones of fresh milk – a financial undertaking worth around $734 million. The allocation of the $100 million budget therefore demonstrates the Royal Government’s commitment to counter this dependence on external resources and work towards self-sufficiency, promoting sustainability in its agricultural markets.

Source: Khmer Times

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