Cambodia: Rice exports to China accounted for 50 percent of total rice exports in January

• Feb 25, 2022

Rice exports to China accounted for 50 percent  of total rice exports in January, an increase due to the high commitments from China through the signing of the Sixth Memorandum of Understanding (MoU) for  400,000 tons per year.

This report was presented at the Annual Meeting of 2021 and the direction of the Action Plan for 2022 of the Rice Federation of Cambodia on the afternoon of February 23, 2022 under the chairmanship of Pan Sorasak, Minister of Commerce.

The Minister expressed his appreciation to all the leaders and members of the Cambodian Rice Federation who have worked hard to implement and achieve the desired results in the past year and set goals for the coming year.

The Minister said that the Rice Federation of Cambodia has played an important role in the rice sector in Cambodia and has worked closely with the Ministry of Commerce, especially Green Trade of the Ministry of Commerce and has contributed significantly to stabilizing rice prices.

He added that the Ministry of Commerce always paid great attention to the rice sector, trying to find all ways to help this sector to be more competitive.

In fact, in 2020 and 2021, the Ministry organized an in-depth and comprehensive study on the cost of production to rice export to the market under the cooperation and financial assistance of the Cambodian Agricultural Chain Program by Australia (CAVAC)

This study will be a necessary basis for developing strategies and incentive plans for making the Cambodian rice sector more competitive. In addition, at the request of the Rice Federation of Cambodia in 2021, the Ministry of Commerce also sought to help the Cambodian rice sector by requesting the Ministry of Economy and Finance to continue to support the rice sector on Tax incentives on income tax exemption for another 5 years for rice exporters and rice millers who have expired tax exemption period according to the proclamation of the Ministry of Economy and Finance No. 779 MEF, dated 11th of October, 2011.

He added that efforts to open up markets for rice and processed products sourced from rice have been active through the inclusion of these items in the list of goods, free trade agreements and bilateral negotiations.

Countries, especially China, are growing markets for Cambodian rice exports, accounting for up to 50 percent of total exports in 2021 and likely to continue to grow in 2022.

Source: https://www.khmertimeskh.com/501031695/rice-exports-to-china-accounted-for-50-percent-of-total-rice-exports-in-january/