Logo of Phnom Penh Post newspaper Phnom Penh Post - Rice request: Association aims for $15m credit

Rice request: Association aims for $15m credit

Rice request: Association aims for $15m credit

CAMBODIA’S Rice Millers Association has requested US$15 million in credit from the government to purchasing paddy for milling for 2011, its president Phou Puy said yesterday. The capital will allow the association’s 280 millers to purchase additional paddy, in turn producing up to 60,000 tonnes of processed rice for export, he said.

“We hope the government will approve our request so that the association will be able to collect more rice,” he said.

The capital would be extended to rice millers in the major rice producing provinces, aiming for individual loan sizes to millers of $300,000 to $500,000.

Last year, the association was granted $11 million from the government via state-owned Rural Development Bank.

Sun Kunthor, general director of the Rural Development Bank said the association’s request was now undergoing a review process by the Ministry of Economy and Finance.

“We will arrange the requested loan this month... if the review shows that the requested loan is appropriate and reliable,” he said. Kampong Cham Rice Miller Association president Sur Kheang said he welcomed more lending to millers. “We need more loans," he said.

MOST VIEWED

  • Prince injured, wife dies after accident

    THE wife of former First Prime Minister Prince Norodom Ranariddh, Ouk Phalla, 39, died while the prince was “severely” injured following a road accident in Preah Sihanouk province’s Prey Nub district on Sunday morning, officials said. Rananriddh, who is also the president of the Funcinpec

  • Bun Heang mocks US, threatens its citizens in scathing open letter

    After being hit with sanctions from the US Department of Treasury, Cambodian General Hing Bun Heang said he would retaliate against any US national who does not respect his country’s sovereignty, has ambitions to invade Cambodia or incites “traitors” in the Kingdom to do

  • Guards protest dismissals, reject claims of sharing naked photos of child

    Some 20 former security guards at the US Embassy in Phnom Penh protested on Tuesday against their dismissal. They accused their employers of falsely claiming they had viewed and shared child pornography from their mobile phones as grounds for their termination. In total, 32 personnel were dismissed

  • Funcinpec urges probe into deadly Preah Sihanouk accident

    THE Funcinpec party has urged the government, especially the Ministry of Interior, to investigate the traffic accident in Preah Sihanouk province which left Prince Norodom Ranariddh badly injured and his wife Ouk Phalla dead. Funcinpec Vice President You Hokry told reporters at Botum Votey pagoda,