The Cambodia Rice Federation (CRF) has noted that restrictions on exports of various types of rice, including broken and white rice, as well as wheat and sugar from India, a leading global rice exporter, offer a potential opportunity for Cambodia.
The Economic Times reported that the Indian government has established a minimum export price of $1,200 per tonne for shipments of basmati rice.
This measure aims to ensure that only authentic basmati rice is exported, thereby preventing the sale of other rice varieties under the premium label to circumvent export restrictions.
Speaking on the development, Chan Sokheang, president of the CRF, told The Post on August 29 that the suspension of certain rice exports by India presents an opportunity for the nation to increase its market share.
At the same time, Vietnam, the world’s third largest exporter of the grain, is also moving swiftly to acquire it from Cambodia.
Sokheang noted that Vietnam’s interest in purchasing Cambodian rice is in line with a longstanding trade relationship between the two nations.
What he highlighted, however, is that this year Vietnam has paying higher prices for the Kingdom’s rice.
The CRF reported that in the first seven months of this year, Cambodia exported 362,798 tons of rice to 52 target countries, fulfilling about 52 per cent of the 700,000 tones it expected to export in 2023.
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Author: Van Socheata
Publication date: 31 August 2023
Source: The Phnom Penh Post