Kingdom earns 420M from rice exports in first two months

Kingdom earns 420M from rice exports in first two months

Cambodia has earned some $420 million from milled rice and paddy exports in the first two months of this year, a report from the Cambodia Rice Federation (CRF) showed yesterday.

From January to February, the Kingdom exported 135,074 tonnes of milled rice, up 49.8 percent from 90,153 tonnes in the same period last year, earning $106 million in revenue (up 62 percent from $65.4 million), read the report.

The commodity exports were shipped by 44 rice exporters to 51 destinations, of which to 25 European countries, totalling 73,048 tonnes of milled rice, valued at $58.53 million.

Exports to China, including Hong Kong and Macau, amounted to 16,500 tonnes worth $10.47 million, while exports to four ASEAN countries at 23,297 tonnes with value of $16.66 million, and to 20 other countries including Africa, the Middle East, the United States, Canada, Australia, New Zealand, etc., at 22,229 tonnes worth $19.87 million.

Of the rice exported, fragrant rice accounted for 86.03 per cent, white rice 8.65 per cent, parboiled rice 2.99 per cent, organic rice 1.87 per cent, and other varieties 0.46 per cent.

Chan Sokheang, President of the Cambodia Rice Federation (CRF), said that the growth in the rice export showed a positive move in the existing markets and new markets.

Talking to Khmer Times, Sokheang said, “We have worked to expand exports of the commodity to the existing markets and accessed new markets. CRF will optimize its efforts so that the exports will keep increasing.”

The Kingdom also exported 1.39 million tonnes of paddy across the border during the two-month period, inching up just 1.4 percent compared to last year.

However, the export of paddy rice dropped by 20 percent to $313 million from $395 million recorded in the same period last year.

The decline in revenue came after a crisis of paddy rice export mostly white rice variety, caused by the white rice market. Vietnam paused purchases for a while earlier this year and farmers were forced to sell their paddy rice below market prices.

To address the issue, the government has handed in by providing an allocation of $150 million to rice millers for purchasing paddy from farmers.

The Cambodian government has also encouraged CRF to further strengthen its collaboration with relevant governmental ministries and institutions to boost direct exports to international markets with higher added value.

khmertimeskh