Friday, May 09, 2008

Cambodian government pins hope on rice as price doubles

PHNOM PENH, May 9, 2008 (Xinhua) --The Cambodian government needs to further support farmers to grow more rice, as its price has doubled recently and the country may find it another pivotal revenue generator, national media said on Friday.

"We should support farmers to grow more rice by improving rural infrastructure, especially irrigation, expanding rural credit and finding better access to world market", English-language newspaper the Cambodian Daily quoted Commerce Minister Cham Prasidh as saying.

"For Cambodia now, we see rice as gold," he said, adding that this is making the government rethink its strategy for economic growth.

Rather than focus on building niche markets, such as labor- friendly garment manufacturing, and negotiating favorable trade deals with the developed world, rising food prices mean Cambodia has a chance to transform itself into a profitable rice bowl for the world, he said.

"Since we start to see the effect and implications of the food crisis in the world, we may now to reconsider what we should do," he said.

There are a lot of people that need food, he said, adding that it is a safe bet that the bottom won't fall out of the rice market anytime soon .

Price of high-quality rice has doubled recently in world market, as high as 1,000 U.S. dollars a ton.

Cambodia has been seeking to organize a rice exporting countries' alliance to exert more influence in world market, just as OPEC, the Organization of Petroleum Exporting Countries, manipulates the global oil price.

The rice exports of Cambodia, Vietnam and Thailand are believed to account for over 50 percent of the world's total annual rice exports.

3 comments:

Anonymous said...

Yes, yes, yes, say no more, let's go full speed and don't look back. Enough times are wasted already.

Anonymous said...

Cambodia has been seeking to organize a rice exporting countries' alliance to exert more influence in world market, just as OPEC.

Negotiation on such issue can take it course, but the important issue right now is how to improve the irrigation system, credit line, more suitable cultivating lands, seeds and fertilizer regime Etc.. Prediction for rice demand will be high but many countries are now embark on large scale cultivation as well therefore it will be some surplus.

Anonymous said...

YEs help the famers fool! don't take the land from farmer and give to foreigne industrial agriculture!