July 08, 2011
Paul A. Ebeling
LiveTradingNews.com
Cambodia has seen 369% rise in processed rice exports in 1-H of this year, compared to the same period last year, showed the statistics from the Ministry of Commerce’s Camcontrol Department Thursday.
From January to June 2011, the country had exported 80,442 tonnes of milled rice to European markets and other countries, up 369% from 17,144 tonnes at the same period last year, while the export value jumped to US$45.7M, 241% up from US$13.4M.
Khuon Savuth, Chief of the Camcontrol Department’s statistics division, said the sharp rise was due to the tax exception for Cambodian rice by the European countries and Cambodia’s improvement of processed rice quality.
“In addition, drought and flood in some European countries also leads to increasing demand of rice from Cambodia,” he added.
Cambodia has 3.9 million tonnes of rice paddies, in equivalent to 2.5 million tonnes of milled rice, left over for exports this year, according to the government report.
However, this country can export only the small amount of its milled rice due to the lack of sophisticated post-harvesting technology.
The country needs roughly US$350M to invest in hi-tech post harvest technology and to purchase rice paddies from farmers for processing in order to achieve its self-imposed target of 1-Million-Ton rice exports by Y 2015.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
4 comments:
cambodia has always been a producer of rice since from the colonial time up to present-day, however. the sites of rice paddies are everywhere in the country, however, since there were lack of proper management to get the khmer rice exported properly due to disruption from civil war, etc, khmer rice growers always sell their rice to neighboring countries like thailand and vietnam, especially, and in turn, thailand and vietnam became the middlemen and resell khmer rice into the international market for higher price. however, i think that is about to change now in cambodia when they have industrial rice mills built in cambodia, and they also have proper management to directly export khmer rice to the international market, which is big out there for khmer rice, really! thank god, things about gradually began to change or shift in favor of cambodia now. khmer rice is as good if not better as rice from thailand or vietnam, you know! now the world is beginning to recognized khmer rice, slowly but surely, i think! keep on promoting khmer rice to the international market with proper khmer labels, etc, etc, ok!
cambodia says no to middleman business deal, ok! stop selling khmer rice short to the middleman in thailand and vietnam, start selling and manage better from cambodia, ok!
Khmer rice tastes like shit, I make that shit only for my dogs to eat, hahaha. Okey with your mama
Has the government puring any of theirs money into this rice farm. this would be a great investment rather than cheating the people land and selling the country. quite as government if you are not a business.
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