Rice

Cambodia’s Milled Rice Exports Witnesses A 3.2% Rise In 2022

Rice is the principal crop for Cambodian farmers and the staple accounts for around 75% of the arable land and 15% of the agricultural value added. And located in East Asia, China remained the largest buyer of Cambodia’s rice during the January-June period in 2022. As per the Ministry of Agriculture, Forestry, and Fisheries, Rice Exporters to China accounted for 51.4% of the country’s total exports of the commodity. India, Thailand, and Vietnam are major competitors of Cambodia in the global rice trade. 

Current Scenario 

As per a Cambodia Rice Federation (CRF) news article on 3rd January’23, the country has exported a total of 6,37,004 tonnes of milled rice to the global markets in the 2022 fiscal year which is 3.2% more as compared to the previous year’s 6,17,069 tonnes. The CRF further stated that the Southeast Asian country earned 414 million U.S. dollars in revenue from the exports of the commodity to 59 countries and regions in the previous year. 

As per a report, the Southeast Asian country exported a total of 327,200 tonnes of milled rice to 51 countries and regions around the world during the first half of 2022, up 16.6% in the same period as compared to the previous year, thereby generating a revenue of $218million. The news article also stated that the country exported milled rice varieties such as premium aromatic rice, fragrant rice, long-grain white rice, parboiled rice, organic rice, and glutinous rice. 

Cambodia is one of the major producers and exporters of rice in the global markets of the commodity. Lack of warehousing, processing facilities, and logistics causes the country to export 80% of the surplus rice produced to neighboring countries. Of the total requirement, Cambodia produces 5 million tonnes of rice surplus. The exports are expected to grow by 15% per annum.

China holds the largest share of imports from Cambodia which supplies the aromatic variety of rice. Cambodia is now forced to develop profitable alternatives such as advanced irrigation technologies, infrastructure development, smart techniques to maintain soil and land fertility, and implement cost-effective agricultural strategies. 

Dith Tina, Cambodia’s Minister of Agriculture, Forestry, and Fisheries said that China is a massive market for Cambodia’s agricultural products and that the Nation hoped to export agricultural products to China under the Regional Comprehensive Economic Partnership (RCEP) and the Cambodia-China Free Trade Agreement. 

He further said to Xinhua “Cambodia and China have solid agricultural cooperation, and we have exported milled rice, mangoes, bananas, and, most recently, longans to China”. 

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To stay updated with the latest happenings of the agro-trade industry, do follow Tradologie.com across all social media channels. 

REFERENCE 

https://bit.ly/3QeYQPZ 

https://bit.ly/3QsIqDT

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