Rice storage offers price security

Rice millers can expect a certain degree of price stability in their exports with the construction of a 200,000-tonne capacity rice warehouse and a 3,000-tonne silo facility in Battambang province. The silo is expected to be finished by the end of the year and the warehouse will be fully operational for the 2018 harvest season, according to the CEO of the Cambodia Rice Bank. 

Phou Puy, CEO of the Cambodia Rice Bank, said that once the facility is ready, it will help stabilise prices during the harvest season and will benefit farmers in Battambang, Banteay Meanchey, Pursat and Siem Reap provinces.  “We spent about $5 million on machines and other facilities for silos and all of these facilities will be installed in July,” Mr Puy said.

Cambodia Rice Bank, which won the $15 million contract to build the facility from the state-run Rural Development Bank in April signed a construction and design agreement with the Cambodian company NGY Investment on the warehouse. It also signed two other agreements with Taiwan’s Agrosun Co and Thailand’s International Rice Engineering Co to supply machinery for the silos.  

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