The Chinese government-run China National Cereals, Oils and Foodstuffs Corporation (COFCO) will today formally agree to import 100,000 tonnes of rice from Cambodia, local officials say.
Representatives from COFCO and Green Trade Co, a Cambodian government-owned agriculture firm, today met in Beijing to sign the agreement, which takes effect this month and is valid for one year. …
Commerce Minister Cham Prasidh yesterday signed an agreement with Indonesia’s Trade Minister Gita Wijrawan to export 100,000 tons of milled rice to Indonesia every year, officials said.
Although the details-such as when the exports will begin and where the rice will be sourced-have yet to be negotiated, the deal is considered an important step toward reaching the government’s target of exporting 1 million tons of milled rice by 2015, said Thon Vira, general director of Green Trade Co., a state-owned rice exporter. …
If exported, the 100,000 tons represents more than half of all the milled rice Cambodia sent abroad during all of last year, when 170,000 tons were exported. …
Still, Indonesia is expected to have surplus of 5.5 million tons of milled rice this year and, therefore, it is uncertain how much demand there will be for imports.
Hul Reaksmey and Philip Heijmans, P. 21
Green Trade, a state-owned, milled-rice exporter, had not been updated on a government-to-government rice deal with the Philippines despite recent media reports that claimed a deal was near. …
May Kunmakara, P. 7
Vietnamese rice exporters will face tough competition from foreign countries looking to exploit advantages that Cambodia presents as a beneficiary of the the EBA (Everything But Arms) initiative, says an Econet report. Under the EBA, Cambodia, as a least-developed-country, enjoys zero tariffs and no quotas for exporting its farm produce, especially rice, to the EU…The plan to build a modern rice mill near Phnom Penh announced by a Viet Nam-Cambodia joint venture nearly two years ago has made no progress. Complicated formalities have been blamed for the delays in building a plant that aimed to process rice for export supplied by Cambodian farmers.
Cambodia-Viet Nam Foods Co (Cavifoods) – a joint venture between Viet Nam’s Southern Food Corp (Vinafood II) and two Cambodian firms – International Development Co (IDCC) and Green Trade Co, was established in October 2009 with a registered capital of US$8 million.