China has topped the list of buyers of Cambodian milled rice for the first five months of 2022, accounting for more than half of the Kingdom’s total exports of the commodity, which has seen a nearly 22 per cent year-on-year surge overall.
The Kingdom’s agriculture sector will continue benefiting from Australia’s aid and assistance, thanks to the new A$87 million (US$61.6 million) Cambodia-Australia Partnership for Resilient Economic Development (CAP-RED).
The global rise in fuel prices caused by the Ukraine conflict has pushed shipping prices in Cambodia up by 15-20 per cent compared to April, transport industry insiders and exporters have said, causing production costs in the Kingdom to rise across the board as a result.
The Japan-Cambodia Association (JCA) has facilitated discussions between 24 Japanese companies, ACLEDA Bank Plc and the Japan Alumni Association of Cambodia on potential investment opportunities in the Kingdom.
The end of rice tariffs in the EU and improving global trade conditions boosted the Kingdom’s milled-rice and paddy exports to 1,560,720 tonnes, valued over $394.6 million, in the first three months of 2022.