Cambodian firms urged to explore US rice market
Cambodian firms urged to explore US rice market
Minister of Commerce Cham Nimul yesterday encouraged domestic rice exporters to explore the market in the United States (US).
The minister stated this during a meeting with Patrick Murphy, Executive Vice President of Rice and Grains Global Sourcing at Otis McAllister and a delegation from the Cambodia Rice Federation (CRF) at the ministry to discuss the possibility of exporting more Cambodian rice to the US.
According to a statement by the Ministry of Commerce, Murphy expressed satisfaction with the overall progress of Cambodia. He also praised Cambodia’s agriculture sector, especially rice products, which are good in quality.
In response, Nimul encouraged 16 major rice export companies who are members of CRF to work directly with Otis McAllister Company to reach an agreement to export Cambodian rice to the US soon.
CRF Secretary-General Lun Yeng told Khmer Times yesterday that it had another meeting with the Council for the Development of Cambodia (CDC) led by Deputy Prime Minister Sun Chanthol and Otis McAllister Company.
He added that Otis McAllister needs to inspect the production standards of rice mills before agreeing to purchase for the US market.
“We have two companies that qualify for the US market standards, but I have been asked not to name them yet. I do not want to release any information about the agreement yet because it is an internal matter of the companies,” Yeng added.
“It is not easy to persuade the US buyers. We have to invite them to inspect the production standards first,” Yeng emphasized.
According to Yeng, Cambodia has exported low quantities of rice to the US, between 2,000-3,000 tonnes per year, but if the Otis McAllister company agrees to buy Cambodian rice, it will go up 5,000-20,000 tonnes per year.
“We have the ability to supply 200,000 tonnes per year,” said Yeng.
According to Yeng, for the first five months of 2024, over 300,000 tonnes of rice were exported from Cambodia to nearly 50 destinations. In the first four months this year, Cambodia exported 248,491 tonnes of rice worth $170.2 million.
Each year, Cambodia produces more than 12 million tonnes of paddy rice or more than seven million tonnes of milled rice, which is 50 percent more than the domestic demand, Yang Saing Koma, Secretary of State of the Ministry of Agriculture, Forestry, and Fisheries, said last month.
“Our goal is to ensure food security and sustainable economy and environment, besides supporting farmers,” he said. “Cambodia’s rice sector is not only successful in ensuring national food security, but it also contributes to global food security.”
