Cambodia Rice News: Cambodian Rice Exports Fall Short of Government Hopes

Cambodian Rice Exports Fall Short of Government Hopes

Cambodia’s rice exports in 2012 may fall significantly compared to last year, due to high fuel prices, soaring logistics costs and high prices.

According to local sources, Cambodian rice shipments to Europe this month are at a $200 markup per container over those from Thailand and Vietnam. They say that shipping costs to Europe has surged almost 50% in the last three months, while soaring fuel prices have pushed logistics costs higher, making Cambodian rice unattractive in the international market.

This year the Cambodian government is targeting 400,000 tons of rice exports. However, Cambodia’s milled rice exports for the first quarter 2012 is almost one-tenth of the target at 38,409 tons. Observers say that the Cambodia’s rice exports will be hit badly this year, barely reaching half of 2011 rice exports of 173,000 tons.

Cambodia is aiming to increase rice production to about 9.5 million tons by 2015, and export around 5 million tons annually. The country has signed agreements with some European nations which exempt rice imports from Cambodia of import duties. However, traders say that in May Cambodian rice became more expensive Italian rice even with tax waivers. Cambodia was slated to sign an agreement with the Philippines this week, but the deal is shaky as delays have prompted the Philippine government to say yesterday that it may forego the Cambodia deal.

Source: Oryza/18May2012

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