Logo of Phnom Penh Post newspaper Phnom Penh Post - Amru bags rice deals worth almost $10M

Amru bags rice deals worth almost $10M

Content image - Phnom Penh Post

Amru bags rice deals worth almost $10M

Amru Rice Group, one of Cambodia’s largest rice exporters, on Thursday signed a contract purchase agreement with 4,000 organic rice farmers in Preah Vihear province.

The agreement effectively means that the company will reserve nearly $10 million to purchase around 30,000 tonnes of organic paddy during the coming harvest season.

Also on Thursday, The Cambodian Agriculture Cooperative Cooperation – an Amru Group subsidiary – signed a purchase agreement with farmers in the same province to buy 10,000 tonnes of dried cassava, reserving about $1 million for it.

This is the fifth year in a row that Amru has secured contract farming agreements in Preah Vihear province for organic rice. However, it is the first year it is doing so for dried cassava.

While the rice harvest is from October to December, cassava farmers won’t start reaping their crop until early next year.

Amru Rice’s CEO, Song Saran, said on Thursday that the company guaranteed it would buy the crops from farmers above market value.

“We want to convert Preah Vihear into a province for organic paddy production,” he said, adding that the cassava purchasing agreement is small as it is meant to test the market.

“With greater support from the market, farmers can sell their crops at a higher price which will benefit their living conditions,” Saran said.

Cambodia exported organic rice for the first time in early 2002.

MOST VIEWED

  • PM: West unfair to Cambodia

    Prime Minister Hun Sen released a message celebrating the International Day of Peace on Monday, saying that some major powers and western countries had been systemically cooperating to put political pressure on Cambodia as they did in the 1970s and 1980s. Hun Sen said pressuring

  • First ‘mobile kitchen’ in Cambodia enters service

    A catering company recently rolled out Cambodia’s first “mobile kitchen” – a $50,000 container capable of serving up to 200 people at a time. The kitchen is the brainchild of Seng Hok Heng Catering Services. At 4.4m-high, 6.8m-long and 2.4m-wide (expandable to 6.8m), the kitchen is equipped

  • Kingdom, China rebut basis for US sanctions

    The Council for the Development of Cambodia, the Ministry of Foreign Affairs and International Cooperation, and Tianjin Union Investment Development Group Co Ltd (Tianjin) have responded to US sanctions on Union Development Group Co Ltd (UDG), a Chinese-owned company currently developing the sprawling $3.8 billion Dara

  • ‘Bad news is an investor’s best friend’ – unlocking investment potential in Cambodia

    It is time to shop. Economic woes provide good pickings for investors if they know where to look The poem If, written by English Nobel laureate poet and novelist Rudyard Kipling for his son circa 1895, is widely perceived as fatherly advice for John who would

  • PM requests Russia’s Covid vaccine

    Prime Minister Hun Sen has requested that Russia provide Cambodia with its Covid-19 vaccine after the former announced it planned on mass vaccinating its population next month. The request came on Thursday through the prime minister’s Facebook page as he met with Anatoly Borovik,

  • Influenza breaks out in eight provinces

    Nearly 600 people have been infected with influenza in eight provinces in the past month, Ministry of Health spokesperson Or Vandine said. The ministry is advising extreme caution. A report released by Vandine on Saturday said the Ministry of Health observed transmissions of influenza between August 15