Logo of Phnom Penh Post newspaper Phnom Penh Post - Cambodian rice price up on international market

Cambodian rice price up on international market

Content image - Phnom Penh Post
The Kingdom exported 690,829 tonnes of milled rice, up 11.40 per cent over 2019. Post staff

Cambodian rice price up on international market

The price of Cambodian milled rice on the international market has seen a slight uptick in the first quarter of this year from end-2020.

The premium “Malys Angkor” brand of fragrant rice is worth $825 per tonne, up $9 or 1.10 per cent from $816 in December, according to a price list compiled by the Cambodia Rice Federation (CRF) on March 23.

The premium soft-cooking white rice variety costs $585 per tonne, up $17 or 2.99 per cent from $568, and premium-quality organic parboiled rice was $585 per tonne, up $10 or 1.74 per cent from $575.

SKO cultivars of standard-fragrant rice fetch $765 per tonne, up $9 or 1.19 per cent from $756, while CRF listed premium-quality organic white rice as $920 per tonne without providing an earlier price for comparison.

Chan Pich, general manager of rice miller and exporter Signatures of Asia Co Ltd, noted that price gains were mild across the board.

“The price of milled rice on the international market has remained stable due to weak orders, which even seem to be declining somewhat,” he told The Post.

He noted, however, that his company’s month-to-date exports to Europe have reached 2,000 tonnes, or double what they were in the full-month of February.

“In my personal opinion, I think Cambodia’s milled-rice exports will fail to outperform last year’s – they’ll be on par though,” he said.

According to Pich, it now costs $4,000-$5,000 to ship a 20-foot container – the standard for milled-rice exports – to Europe, surging $800-$1,000 from end-2020.

According to CRF data, the Kingdom exported 76,222 tonnes of milled rice worth $64.53 million in January-February, down 44.16 per cent on a yearly basis, a drop the federation blamed squarely on the “nearly 500 per cent” jump in shipping costs from 2019 levels.

Mainland China, Hong Kong and Macau remained the leading market for Cambodian milled rice in the first two months of 2021, absorbing 37,630 tonnes or a market share of 49.37 per cent.

Shipments to 18 of the EU’s 27 nations, ASEAN and other destinations – including Gabon, Australia, the UK and New Zealand – reached 18,996 tonnes, 6,229 tonnes and 13,367 tonnes, respectively, accounting for 24.91 per cent, eight per cent and 18 per cent of total milled-rice exports for the period.

Last year, the Kingdom exported 690,829 tonnes of milled rice worth nearly $539 million, marking an 11.40 per cent surge in volume from 2019, according to CRF. Chinese-bound shipments of the commodity weighed in at 289,439 tonnes, accounting for 41.90 per cent.

MOST VIEWED

  • Research key to Kanitha’s rep for expertise

    Sok Kanitha is used to weighing in on controversial issues using a confident approach that signals expertise and authority, and a recent video she made was no exception. Her “Episode 342: The History of NATO” video went live on January 16, 2023 and immediately shot to 30,000 likes and 3,500

  • Cambodia maintains 'Kun Khmer' stance despite Thailand’s boycott threat

    Cambodia has taken the position that it will use the term "Kun Khmer" to refer to the sport of kickboxing at the upcoming Southeast Asian (SEA) Games, and has removed the term Muay from all references to the sport. Despite strong reactions from the Thai

  • Knockout! Kun Khmer replaces ‘Muay’ for Phnom Penh Games

    Cambodia has decided to officially remove the word Muay from the programme of the 32nd Southeast Asian (SEA) Games 2023 in May. “Kun Khmer” will instead be used to represent the Southeast Asian sport of kickboxing, in accordance with the wishes of the Cambodian people. Vath

  • Artificial insemination takes herd from 7 to 700

    Some farms breed local cows or even import bulls from a broad for the purpose of breeding heavier livestock for meat production. One Tbong Khnum farmer has found a more efficient way. Hout Leang employs artificial insemination to fertilise local cows. Thanks to imported “straws”

  • New int’l airport nearly half complete as travel industry returns to life

    Construction of a new airport that is slated to serve the capital has passed the 43 per cent completion mark, raising prospects for a proper recovery in the civil aviation and tourism sectors as international travellers return to the Kingdom in increasingly large numbers. The figure

  • Chinese group tours return to Cambodia starting Feb 6

    Cambodia is among 20 countries selected by Beijing for a pilot programme allowing travel agencies to provide international group tours as well as flight and hotel packages to Chinese citizens, following a three-year ban. As the days tick down until the programme kicks off on February 6,