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Global food insecurity driving up Cambodia’s rice export prices
The price for Cambodia’s rice export continues to rise due to prolonged global food insecurity driven mainly by on-going Russia-Ukraine conflict. Hun Lak, Chairman of the Board of Directors of Cambodia Rice Federation, when revealing this said that that the price hike will drag on as some wheat producing countries stop exporting to secure domestic food security.
As a result, he said, the global demand for rice from producing countries including Cambodia, Thailand and Vietnam soars, pushing up the price. Experts from the United Nations World Food Programme (WFP) warned that without proper solution, the global food crisis is placing nearly 50 million more people around the world at risk of starvation.
The number of people with severe food insecurity has already doubled to 135 million since the onset of COVID-19 and more than 800 million people have been facing starvation. China remains the leading market for Cambodia’s rice export accounting for 52 percent of Cambodia’s total rice exports in the past five years.
Europe is the second largest buyer of Cambodian rice and ASEAN is Cambodia’s third largest rice export market. Lim Nary – AKP