Panic rice buying to try to beat price inflation

22 March 2008
Everyday.com.kh
Translated from Khmer by Socheata

In the last few days, Phnom Penh city dwellers start to buy rice in a panic hoarding mode because they are concerned that the price of rice will significantly increase in the future. Recently, the price of rice has been steadily increasing without any end in sight. The Koh Santepheap newspaper reported that the price of rice has increased dramatically: one kilo of rice has been increasing by about 1,000 riels ($0.25) more than the normal going rate. The price increase stems from their purchase by foreign traders from Vietnam and Thailand who are coming in large drove to buy rice in Cambodia in an anarchic manner. Cambodian people are currently concerned about the increasing price of rice because the next crop season will not take place until 8 more months. According to claims made by rice sellers near the Phnom Penh train station, the price of rice has increased significantly beyond its normal price by more than 1,000 riels ($0.25) per kilo in the past 20 days. The price increase also instills concerns among Phnom Penh city dwellers who are starting to hoard them as well. People who normally would buy one bag of 50 kilos of rice, are now hoarding 2 to 3 bags at a time. Rice sellers said that a bag of No. 1 Phkar Mlis (Jasmin) rice which in the past cost between $18 to $20 only, now fetches $40 per bag.

Phnom Penh city dwellers concerned about rising price of rice

Wednesday, January 16, 2008
Everyday.com.kh
Translated from Khmer by Heng Soy

Phnom Penh city dwellers are concerned about the constantly rising price of rice, in particular those who have low daily income. The city dwellers indicated that a large number of them are not only concerned about the rising price of rice, they are even concerned that there will also be rice shortage as well. The city dwellers heard that businessmen who buy husked rice to mill and sell locally, could not buy much husked rice because of competition from buyers from neighboring countries who are willing to pay higher price, thus increasing the price of rice. Rice sellers in Phnom Penh indicated that the price of rice rose to more than 20,000 riels ($5) per 100 kilos, at the beginning of 2008. The price of rice in Cambodia has been on the rise since 2005, because in the past few years, neighboring countries are coming in drove to buy husked rice from Cambodia to mill in their countries and export them out to a third country. Each year, several million tons of rice is thus exported out of Cambodia.