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Port gives rice exporters a cut in storage costs

Port gives rice exporters a cut in storage costs

In a bid to ramp up rice exports to 1 million tonnes in 2015, the Phnom Penh Autonomous Port announced yesterday that rice stored in its warehouses would not be charge any fees for up to 18 days.

The move comes after 2014’s rice exports stacked up to 387,061 tonnes, according to the Agriculture Ministry, with Prime Minister Hun Sen admitting in December that the million-tonne goal was unlikely.

Song Saran, chief executive of Amru rice, said the port’s move was a “good sign” for rice exporters.

“I think it will help push our exports, especially to China,” he said, adding that storing rice at the port currently costs about $1 to $2 per tonne for every two weeks.

However, Saran said he believed the 1 million tonne goal was still improbable due to high logistical and storage costs outside Cambodia. “It’s one of the factors we cannot reach.”

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