We focus on grains and food industry.
We focus on grains and food industry.
We focus on grains and food industry.
We focus on grains and food industry.
We focus on grains and food industry.
We focus on grains and food industry.
We focus on grains and food industry.
We focus on grains and food industry. current time
Cambodia’s rice exports projected to surpass 1 mt by 2026
As stated by Oknha Lay Chhun Hour, President of the Cambodia Rice Federation (CRF), rice exports from Cambodia are projected to surpass 1 million tonne (mt) by 2026, driven by market dynamics, government financing initiatives, and a growing demand from China, Europe, and the Philippines.
Commenting on the nation’s rice exports, he remarked that looking at rice exports of approximately 470,000 tonne of rice between January and April of this year, it is expected that the country to achieve its annual export target of 1 mt and probably, the figure may exceed.
Notably, the target of 1 mt for rice exports was set in August 2010 under the leadership of former Prime Minister Samdech Techo Hun Sen. Additionally, in the first four months of this year, rice exports from Cambodia saw an increase of approximately 66 percent year-over-year, bolstered by strong shipments to Europe, China, and regional Asian markets.
Moreover, he pointed out that China is one of the key rice trading partners of the Federation, as Cambodia exports rice to China. The country is also aiming to diversify its exports by venturing into new markets such as the Middle East, other Asian markets, West Africa, Oceania, and the United States.
“We focus on the middle-to-high-end segment and leverage Cambodia’s natural advantages in premium rice varieties,” stated Chhun Hour highlighting the robust demand for Cambodian premium fragrant rice varieties such as SKO, SRO, and Jasmine rice from Europe.
He further mentioned that conversely, there has also been a noted increase in demand for OM 5451 rice from China and the Philippines. He mentioned that the prices of OM 451, which were around $450 per tonne a few days ago, have now risen to $500 tonne. In addition, he confirmed that the Cambodian government has initiated several emergency funding programs to support millers and producers.
The president also stated that this year, the government allocated emergency funds to assist farmers and millers following the decline in paddy prices earlier this year. Furthermore, the Federation collaborated with authorities to lower production costs, including expenses related to electricity and logistics. The reduction in production costs is expected to improve competitiveness against suppliers from countries such as Thailand, Vietnam, and India.
In general, Cambodia exports rice to numerous countries worldwide. Additionally, rice cultivation remains a vital source of income for farmers in the nation. Undoubtedly, in recent years, the country has reached significant milestones in rice exports. Indeed, it is consistently striving to increase its export volume.
