Logo of Phnom Penh Post newspaper Phnom Penh Post - Agricultural brokerage firm begins operations

Agricultural brokerage firm begins operations

Agricultural brokerage firm begins operations

Chief Cambodia Holding, a Hong Kong-based brokerage firm, started its operations in Phnom Penh yesterday. The company aims to strengthen Cambodian agricultural products, a company official said.

The company reserved $100 million investment capital to connect domestic agricultural producers to the market, Director of Chief Cambodia Holding Te Tea Sieng said.  

“So far, our agricultural products are searching for a market while the market is waiting for our products,” Te Tea Sieng told reporters.

“We will work on this mismatch, because funding and market access are our specialties.”

Agricultural experts say there are several obstacles hindering growth in the agricultural sector: limited budgets, lack of knowledge about how to improve yields’ quality, and how to access markets.

Yang Saing Koma, president of the Cambodian Center for Study and Development in Agriculture (CEDAC), said due to limited funding and high interest rates, local firms cannot allocate an agricultural stock during harvest time, which is why products flow out of the country.

“If it is a real investment, this new company will contribute to strengthen production,” he said.

Song Saran, president of exporter Amru Rice Cambodia, told the Post yesterday that shortage of finances to buy paddy from farmers is still the major issue for rice millers.

“If they truly commit and the criteria from the company are acceptable, they will prosper,” Saran said. “However, we need time to build trust whether it is a real investor and a long term operator.”

MOST VIEWED

  • US think tank warns of China's 'ulterior motives'

    A US think tank on Tuesday warned that spreading Chinese investment in the Indo-Pacific follows a pattern of leveraging geopolitical influence at the expense of the nations receiving investment, including Cambodia. The report looks at a sample of 15 Chinese port development projects, noting that the

  • More than three tonnes of ivory reportedly bound for Cambodia seized in Mozambique

    A total of 3.5 tonnes of ivory reportedly bound for Cambodia was seized by authorities in Mozambique late last week, according to the NGO Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES). CITES' information was based on a report from the

  • Defence Ministry denies weapons in smuggling case came from Cambodia

    After a Thai national was arrested last week for allegedly smuggling guns from Cambodia to Thailand, Cambodia's Defence Ministry has claimed the weapons seized during the arrest are not used in Cambodia, despite the fact that both types of rifle seized are commonly found in

  • Shipwreck found off coast of Koh Kong

    Royal Cambodian Navy researchers are working to identify a decades-old shipwreck found earlier this month off the coast of Koh Kong province. Divers found the 70-metre-long wreck on April 4 about a mile from Koh Chhlam island, according to Navy officials. Deputy Navy Commander Tea Sokha,