Logo of Phnom Penh Post newspaper Phnom Penh Post - PM petitions for more Philippine investment in Cambodian rice

PM petitions for more Philippine investment in Cambodian rice

Content image - Phnom Penh Post
Philippine ambassador to Cambodia Maria Amelita C Aquino (left) pays a courtesy call to Prime Minister Hun Sen on February 17 at the Peace Palace in Phnom Penh. AKP

PM petitions for more Philippine investment in Cambodian rice

Prime Minister Hun Sen on February 17 called on the Philippines to invest in Cambodia’s rice sector, suggesting they export the commodity back home and to the rest of the world.

He made the plea during a courtesy call paid by newly-minted Philippine ambassador to Cambodia Maria Amelita C Aquino at the Peace Palace in Phnom Penh.

“The Philippines can invest in Cambodia by financing rice millers, building paddy warehouses and establishing a network to buy paddy for stock and for export to the Philippines,” he said, adding that the Kingdom has about six million tonnes of milled rice in its stockpiles each year.

Cambodia Rice Federation (CRF) secretary-general Lun Yeng told The Post that milled-rice exports to the Philippines were relatively weak and that the federation will try to make more inroads into the island nation’s market for the Kingdom’s product.

He lauded the prime minister’s move, saying it will make headway towards securing a market for the Kingdom’s private sector.

“We’ve tried exporting milled rice to the Philippines before, but there’ve always been barriers between buyers and sellers – there are certain discrepancies in price, delivery times and payment requirements. But we’ll keep trying to talk with the Philippines,” Yeng said.

Aquino told Hun Sen that her mission as an ambassador is to expand and reinforce cooperation between the two countries, especially in the fields of trade, economy and investment.

“The Philippines will pay heed to existing agreements that have been signed,” she said.

According to Minister of Agriculture, Forestry and Fisheries Veng Sakhon, Cambodia exported 690,829 tonnes of milled rice worth nearly $539 million last year, which represents an 11.40 per cent surge from 2019, he said.

The minister added that 76 Cambodian firms exported the milled rice to 60 international markets, with China absorbing the largest share of 289,439 tonnes, equivalent to 41.90 per cent of the total.

The EU market took in 203,791 tonnes, (29.50 per cent) of Cambodian milled rice, six ASEAN countries imported 86,899 tonnes (12.58 per cent), while 29 other countries bought 110,700 tonnes (16.02 per cent), he said.

MOST VIEWED

  • 12th Cambodia int’l film festival to see return of Hollywood star

    Phnom Penh is set to come alive with the magic of cinema as the highly anticipated 12th Cambodia International Film Festival (CIFF) takes centre stage. Boasting an impressive line-up of 188 films from 23 countries, including captivating shorts, feature films, documentaries and animation, the festival promises an

  • Bareknuckle champion wants Kun Khmer fighter

    Dave Leduc, who is the current openweight Lethwei boxing champion in Myanmar, has announced that he will travel to Cambodia this year to challenge SEA Games gold medallist Prum Samnang any time that is convenient, after their planned match later this month in Slovakia was

  • Struggling Battambang artist dreams of staging full-scale gallery exhibition

    Leav Kimchhoth, a 55-year-old artist from Battambang province, is a familiar face to locals and tourists alike on the streets of the riverside in Phnom Penh. The one-armed painter and illustrator often hawks his work near the night market on weekends and public holidays. He

  • Fresh Covid warnings as Thai hospital fills

    A senior health official reminds the public to remain vigilant, as neighbouring countries experience an increase in Covid-19 cases, with the latest surge appearing to be a result of the Omicron XBB.1.5 sub-variant. Or Vandine, secretary of state and spokeswoman for the Ministry of Health,

  • New Law on Taxation comes into effect

    Cambodia has enacted the eagerly-awaited new Law on Taxation, which aims to improve the national tax regime’s compliance with present and future international standards and economic conditions; encourage accountability, effectiveness and transparency in the collection process; and promote investment in the Kingdom. King Norodom

  • Five-year-old Hanuman dances his way into hearts of Cambodia

    A young talent from a new-established settlement has emerged, captivating the online world with his mesmerising performances of the traditional Cambodian monkey dance. Roeun Kakada is a five-year-old prodigy who has taken the social media sphere by storm with his exceptional dance skills and dedication