Cambodia has exported 283,675 tons of rice at a value of $173.47 million to international markets in the first five months of 2022, with China taking the most produce followed by the European Union, according to the country’s rice federation.
Exports to China, including Hong Kong and Macao Autonomous Region, were 149,447 tons, or 52.68 percent, an increase of 23.68 percent compared with the same period in 2021, Cambodia Rice Federation said.
Exports to 23 European countries amounted to 88,167 tons or 31 percent, an increase of 49.26 percent, the Federation added.
Exports to four ASEAN member countries amounted to 25,691 tons or 9.06 percent, an increase of 17.59 percent.
Kann Kunthy, vice-president of Amru Rice (Cambodia) Co Ltd, one of the country’s main milled rice exporters, said that while demand has picked up, the Russia and Ukraine war could see a price jump of 10 to 15 percent.
“Price increase is better because input (fertilizer and pesticide) has been increasing, inflation has been high too,” Kunthy said via Messenger. “I think the future looks okay. Not that great because logistics (freight) and input costs have skyrocketed.”
The increase in exports comes as tariffs on Cambodian rice ended on January 20. The European Union imposed the tariffs in 2019 for three years to curb a surge in imports, following a safeguard investigation at the request of the Italian government.
Song Saran, president of Cambodia Rice Federation (CRF), has predicted that exports had been projected to increase between 15 and 20 percent this year, capturing 30 to 35 percent of total rice exports in the European market after tariffs were scrapped.
During the tariffs set out by the EU, the estimate of the duty paid was around $56 million.