Cambodia’s rice export prices on the rice fuelled by global food insecurity, other factors

Cambodia’s rice export prices continue to rise as the global food insecurity crisis continues, pushing supply and demand on producing countries.

Chairman of the Board of the Cambodian Rice Federation, Hun Lak, said on June 21 that the value of Cambodia’s rice exports could be expected to increase further due to the impact of the war in Ukraine.

Unstable oil prices and food insecurity are also factors in the price hike of rice exports from the Kingdom. Some wheat-producing countries have also suspended their exports, leading to demand for rice exported from other rice-producing countries, such as Cambodia, Thailand and Vietnam.

Lak said that despite the war in Ukraine, global food shortages and fluctuations in global oil prices have had an overall impact on the world economy, Cambodia has seen an increase in demand from partner countries. This increase in demand is proving beneficial for farmers and people in the sector.

Experts from the UN World Food Programme emphasized that the food crisis is putting an additional 50 million people around the world at risk of starvation, if a solution is not found. The number of people with severe food insecurity has doubled to 135 million since the onset of Covid-19 and more than 800 million people are facing starvation.