Illustrative image (Photo: Khmer Times) Phnom Penh (VNA) - The Cambodian Rice Federation (CRF) has called on all rice millers and exporters to keep buying paddy rice to ease oversupply in the market, amid the COVID-19 pandemic.
The call came after Cambodian Prime Minister Hun Sen made a decision to suspend the export of paddy rice and white rice from April 5.
The Khmer Times quoted the CRF as saying that in order to help farmers in this difficult period, the Cambodian Government has provided loans for rice millers and exporters via the state-owned Agricultural and Rural Development Bank (ARDB) to buy paddy from farmers.
CRF Secretary General Lun Yeng said in these hard times, the rice sector is healthier than others because it is profitable from higher local demand and good prices.
In mid-March, ARDB launched a 50 million USD fund to increase small and medium-sized enterprises (SMEs)’s access to credit in agriculture.
According to the CRF, Cambodia exported over 230,900 tonnes of rice in the first quarter of this year, up over 35 percent year-on-year. China remained its largest rice importer./.
