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Deal to sell local paddy to Vietnam

Deal to sell local paddy to Vietnam

TAUCH Tepich Import Export signed an agreement this month to supply 10,000 tonnes of unprocessed paddy worth US$2.3 million to south Vietnam-based firm Tri Mai, said the president of the Cambodian company.

Tauch Tepich said Sunday that it would begin delivery this week.

According to the agreement, Tauch Tepich will supply 1,000 tonnes of paddy a month by water across the K’orm Samnor border crossing in Kandal province.

“We hope Cambodian farmers will get more market opportunities to sell their paddy under this agreement,” he said.

Agricultural analysts say the Kingdom should be taking advantage of rising processing power to add value to the sector rather than shipping raw materials to the likes of Vietnam – a major competitor in agricultural exports – where Cambodia-produced crops are usually processed and sold overseas.

“I think it is better if the company could export rice instead of paddy because it brings greater advantages for the economy,” said Yang Saing Koma, president of the Cambodian Centre for Study and Development in Agriculture.

This year the Rural Development Bank (RDB) has lent $12 million to rice millers for purchasing paddy at 7 percent interest per year.

“We have given loans at very low interest rates to encourage companies that wish to buy paddy to process rice for export,” said RDB President Sun Kunthor.

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