Cambodia’s Revenue from Rice Exports Hits $65 Million
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In the initial two months of 2024, Cambodia reported a revenue of $65.4 million from exporting 90,153 tonnes of milled rice. This represents a 7.2 percent decrease in volume and a 9.9 percent drop in earnings compared to the 97,153 tonnes sold during the same timeframe in the previous year, as per the Cambodia Rice Federation’s findings.
This period saw Cambodia’s rice reaching 50 different countries and regions through the efforts of 40 exporting entities. The variety of rice shipped included premium aromatic, fragrant, long-grain white, parboiled, and organic rice.
A breakdown of the exports shows that the European Union (EU) was the largest market, purchasing 51,333 tonnes for $38.37 million. The Association of Southeast Asian Nations (ASEAN) member states followed with 18,753 tonnes, contributing $13.36 million to the total revenue. China was another significant market, with 11,083 tonnes bringing in $6.81 million, while other destinations accounted for 8,984 tonnes and $6.90 million in revenue.
Additionally, Cambodia saw substantial earnings from paddy rice, with 1.37 million tonnes exported, yielding $395 million during the same period.
Reflecting on the previous year’s performance, Cambodia succeeded in exporting over 656,000 tonnes of milled rice, generating $466 million. This marked an increase of three percent in quantity and 13 percent in revenue compared to 2022.
Looking ahead, the Cambodia Rice Federation has an ambitious goal to elevate its milled rice exports to at least one million tonnes by 2025. In support of this objective, Cham Nimul, the Minister of Commerce, highlighted the government’s proactive efforts in identifying and securing new markets, particularly focusing on countries that have established free trade agreements with Cambodia.
Efforts are being channeled through several significant agreements, including the Cambodia-China Free Trade Agreement, the Cambodia-Korea Free Trade Agreement, the Regional Comprehensive Economic Partnership Agreement, and the Cambodia-United Arab Emirates Comprehensive Economic Partnership Agreement. These initiatives were underscored during the ministry’s annual conference, emphasizing the strategic moves to enhance Cambodia’s rice export potential.
