PHNOM PENH– Cambodia exported 149,447 tonnes of milled rice to China, in the first five months of 2022, up 23.6 percent over the same period last year, the Cambodian Rice Federation (CRF) said, yesterday.

China remained the top buyer of Cambodia’s rice, followed by the European Union, the CRF said, in a news release, adding that, export to China accounted for 52.6 percent of Cambodia’s total rice export during the Jan-May period this year.

The southeast Asian nation sold 88,167 tons of rice to the European market during the period, up 49 percent, the CRF said, adding that the European market absorbed 31 percent of the overall market destinations.

“In the first five months of 2022, Cambodia exported all kinds of milled rice to international markets through 53 companies with a total volume of 283,675 tons, up nearly 22 percent, earning 173.47 million U.S. dollars in revenue,” the CRF said.

CRF President, Song Saran said, China is a huge market for Cambodian rice and the kingdom is expected to export more rice to China, after the Regional Comprehensive Economic Partnership (RCEP) entered into force on Jan 1, 2022.

“The RCEP will further ease trade in goods between Cambodia and China, as well as, other participating countries,” he said. “This mega regional trade pact provides a greater market access for Cambodia’s products, and I think it will attract more foreign investors to invest in various sectors, including in the rice industry, in order to export finished products to those RCEP countries, with tariff concessions.”

Saran, who is also chief executive officer of Amru Rice (Cambodia) Co., Ltd., said, currently, his company exports milled rice to China, Singapore and Australia.

Source: NAM NEWS NETWORK