Logo of Phnom Penh Post newspaper Phnom Penh Post - Imported raw silk gets cheaper

Imported raw silk gets cheaper

Imported raw silk gets cheaper

THE price of imported raw silk decreased to US$44 per kilogram even as raw silk production fell off, according to industry insiders.

Imported raw silk dropped 12 per cent to $44 per kilogram compared to $50 per kilogram last May.

Cambodia Craft Federation CEO Soeng Kemyun, said the dwindling price of raw silk should be an advantage for local producers, but has not yet reached that stage. “The price of raw silk slightly decreased, but not enough for craftsmen to easily purchase it and process it for export. A price under $30 per kilogram would be better,” he said.

Silk exports to Europe have dropped as no orders are being filed due to the euro crisis, he continued.

Keo Mony, deputy director of Khmer Silk Village, a silk association in Kompong Cham, Prey Veng, Takeo provinces, said the drop in price was due to importers drawing on many raw silk producers.

He believed the price won’t decrease further, however. Raw silk production decreased around 20 to 30 per cent, because the youths who work in the sector have begun to seek other jobs, according to Keo Mony.

Cambodia needs between 400 to 500 tonnes of raw silk per year for its craft sector, with it mainly imported from China and Vietnam as Cambodia only produces five to six tonnes per year.

The import of silk would lessen if local productivity decreases as well, Soeng Kemyun said.

To contact the reporter on this story: Rann Reuy at [email protected]

MOST VIEWED

  • Proof giants walked among us humans?

    For years a debate has waged about whether certain bas relief carvings at the 12th-century To Prohm Temple, one of the most popular attractions at the Angkor Wat Temple Complex in Siem Reap province, depicted dinosaurs or some rather less exotic and more contemporary animal,

  • New US bill ‘is a violation of Cambodian independence’

    After a US congressmen introduced bipartisan legislation that will enact sanctions on Cambodian officials responsible for “undermining democracy” in the Kingdom, government officials and the ruling Cambodian People’s Party on Sunday said they regarded the potential action as the “violation of independence and sovereignty

  • Long way to go before Cambodia gets a ‘smart city’

    Phnom Penh, Siem Reap and Battambang will struggle to attain smart city status without adopting far reaching master plans, according to officials tasked with implementing the program. The brainchild of the Association of Southeast Asian Nations (Asean), the smart city program seeks to link up

  • Japan bank buys major stake in ANZ Royal Bank

    Japan's largest bank acquired more than half of ANZ’s shares in Cambodia on Thursday, according to a statement from Kith Meng’s Royal Group. Japan's JTrust Bank, announced that they had acquired a 55% of stake in ANZ Royal Bank. According to a Royal Group