Rice trade rebounds with help from China

Cambodian rice exports saw a rebound in March, increasing to 75,867 tonnes and doubling February’s export numbers, on account of increased Chinese imports, which benefitted from the relaxing of import restrictions by the Chinese government, according to the Cambodia Rice Federation.

The Kingdom’s rice exports grew by more than 100 per cent year-on-year in March, more than doubling the 35,758 tonnes of rice exported in March 2014. This increase was a result of swelling Jasmine and long grain white rice (LGWR) exports, with the latter accounting for 52 per cent of rice shipments last month.

“The increasing number is due to fewer restrictions on import requirements by the Chinese government for Cambodia rice,” said Kim Savuth, president of the Federation of Rice Exporters.

David Van, senior adviser to the Cambodia Rice Federation, said that while rice exports to the EU had increased 16 percent in the first quarter, as compared to the same period last year, the depreciating euro will impact exports this year.

“However, as EU doesn’t produce any Fragrant Rice, they would still continue to import such variety from Asia,” said Van.

Last August, Cambodia signed a 12-month agreement with China to export 100,000 tonnes of rice from the Kingdom.

As of March, Savuth said, Cambodia had already exported 80,000 tonnes of this quota, with the export deal expected to reach completion in April or May.

http://www.phnompenhpost.com/business/rice-trade-rebounds-help-china

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