Despite Falling Prices, Rice Exports Up

Cambodia saw growth in milled rice exports for the first 10 months of the year, but a slowdown in world demand has seen a fall in prices which could hurt sales of local fragrant rice in the coming harvest season. Rice exports from Cambodia rose 3.3 percent in the first 10 months of the year, up 421,000 tons of milled rice from 408,000 tons in the same period last year.
 

China is the top buyer for Cambodian rice, followed by France and Poland, according to one statistics-gathering report for rice exports released on Wednesday. The report said that Cambodia exported 89,946 tons of milled rice to China between January to October, representing a 7.6 percent increase compared with the same period last year. In the same period France imported about 61,000 tons and Poland 56,000 tons.
 

Last month, China signed a memorandum of understanding to purchase 200,000 tons of rice annually to help Cambodia’s farmers and millers grappling with falling prices and struggling to compete with the influx of cheaper rice from neighboring countries. Recently, the rice price in the region, particularly in Thailand , dropped due to the slowdown in demand on the  global market.

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