Logo of Phnom Penh Post newspaper Phnom Penh Post - Deal to sell local paddy to Vietnam

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.

MOST VIEWED

  • US to ramp up sanctions after ‘flawed’ national polls

    At a press conference on Wednesday, the US State Department announced that it would expand visa sanctions on the Cambodian officials and individuals it deems responsible for “undermining democracy” in Cambodia. At the briefing, spokesperson Heather Nauert reiterated that the department regarded the July 29 elections

  • PM's Bodyguard commander hits back at US

    The commander of Prime Minister Hun Sen’s Bodyguard Unit (BGU) Hing Bun Heang on Sunday dismissed a short video clip that went viral on social media in which he says he is preparing for a war with the United States over its aggressiveness towards

  • Final poll results confirm first single-party Assembly

    IN an unprecedented situation in Cambodian politics, the official results of the July 29 national elections have declared that the Cambodian People’s Party (CPP) will take all 125 seats in the National Assembly on the back of it receiving 76 per cent of the votes. The National

  • UN: Large number of voters ‘alienated’

    The spokesperson for the UN Office of the High Commissioner for Human Rights (OHCHR) claimed a significant proportion of the Cambodian population was left alienated in the July 29 elections after the dissolution of the Cambodia National Rescue Party (CNRP). Having held 55 of the 123 seats in