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

  • Negotiations on EBA being held

    In an effort to defuse tensions, a senior government official said Cambodia is negotiating with the European Union (EU) on the Everything But Arms (EBA) trade deal, which allows the Kingdom to export goods to the 28-member bloc tariff-free. The EU notified Cambodia on October 5

  • Ministers to tackle sea pollutants

    Preah Sihanouk provincial authorities and members of local communities have collected 77 tonnes of water hyacinth at a Sihanoukville beach, Preah Sihanouk Provincial Hall spokesperson Or Saroeun said. He told The Post yesterday that the aquatic weeds had been floating along some of the province’s

  • Chinese police escort deported scam suspects

    Ninety-one Chinese nationals accused of extorting money from victims in a Voice over Internet Protocol (VoIP) scam were deported from Phnom Penh International Airport on Monday under the escort of 182 Chinese police personnel. General Department of Immigration head of investigations Ouk Hay Seila told reporters

  • EU officials: Ending EBA an 18-month procedure

    EU officials have confirmed that it will take a total of 18 months to complete the procedure if Cambodia’s preferential Everything But Arms (EBA) trade agreement is to be withdrawn. According to EU Agriculture and Rural Development spokesman Daniel Rosario, the formal process has not