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Cambodia offers the Philippines cheaper rice

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In order to provide the Philippines with a different and more affordable source of rice, Cambodia is looking into prospects to sell rice directly to that nation.

On Thursday, a team from Cambodia led by Okhna Chan Sokheang, president of the Cambodia Rice Federation, and Chan Sokty, chief executive officer of the state-owned Green Trade Company, met with Alfredo Pascual, secretary of the Department of Trade and Industry (DTI).

Green Trade is the DTI’s Philippine International Trading Corp.’s counterpart (PITC).

In addition, the Cambodian representatives are looking into the possibility of exporting rice under a government-to-government agreement between Green Trade and PITC.

“They are still gathering information. They are investigating our markets, Pascual informed the media.

According to Pascual, 50% of Cambodia’s total rice production is in excess, and the Southeast Asian nation plans to export it straight to its neighbors as well as to Europe.

The Philippine market will accept rice from Cambodia with a 35 percent tax.

The amount of rice the Philippines would import in 2022, according to Pascual, is 3 million metric tons, and the Cambodian delegates stated they can commit to providing that amount of rice.

Prior to the ASEAN Summit in November 2022, Cambodia expressed a desire to directly sell unmilled rice to the Philippines, according to Joey Concepcion, founder of Go Negosyo and chair of the ASEAN Business Advisory Council.

Concepcion continued by stating that Vietnam imports raw rice from Cambodia and processes it before exporting it to other nations like the Philippines.

According to the Bureau of Plant Industry, Vietnam provides more than 80% of the nation’s rice imports.

He continued by saying that purchasing rice directly from Cambodia could bring down market costs for the grain.

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