Cambodia to Receive US $600 Million Investment from Australian Company
Peter Costello, BBK Partners Managing Director has revealed that his company is willing to inject US $600 million to fuel the agricultural sector of Cambodia. This investment would be appropriated to the agro-industrial plantation on an estimated 100,000 hectares and is expected to create 15,000 jobs for Cambodians.
Cambodia Plans to Increase Rice Exports
Rice is one of the top agricultural export products of Cambodia. Almost 80% of the population of Cambodia are farmers.
In 1967, cultivated land in the country was at 2,253,000 hectares and increased to 2,547,402 hectares. Of these, only 43.97% is covered by irrigation systems. To boost rice exports for the next couple of years, the Cambodian government is planning to invest some $310 million in irrigation systems. It is expected that by 2013, some 70% of cultivated land will then be covered by an irrigation network.
For the first time, the Cambodia Center for Study and Development in Agriculture managed to send to the United States a container of organic rice.
Cambodian Rice to be Exported by Belgian Firm
Schepens and Co NV, a Belgian firm, aims to export more than 50,000 tonnes of rice to the international market within the year. According to Cezary Zimniewski, an executive for the East European branch, the projected tonnage for export will be divided to 30,000 tonnes of ordinary rice and 20,000 tonnes of som malis and jasmine rice. This export estimate is part of the company’s test project.
Phou Puy, the president of FCRMA and director of Baitang Kampuchea PLC, expressed interest in becoming Schepens and Co’s partner. According to data, Baitang Kampuchea PLC can supply up to 200,000 tonnes rice per year to its partners.
20,000 Tonnes of Rice Exported Annually to the EU by Local Company
Angkar Rong Roeung Co., Ltd., a local rice exporter enterprise, exports about 20,000 tonnes of jasmine rice variety to its EU market counterparts. For the past 10 years, the company has consistently exported this much amount of rice to the EU markets according to its annual report. In line with this, the company has been granted a $2 million special loan by the Rural Development Bank. This special loan is allocated for rice miller upgrade and rice stock purchase for export.
Major EU markets for rice export include Germany, France, Spain, and Switzerland. Rice export is usually bought from provinces like Kampot, Kandal, Speu, and Takeo. Current export price is at $1,080 for 1 tonne.
Cambodia Gives $50,000 for Earthquake Victims in Haiti
The Royal Kingdom of Cambodia is donating $50,000 to help the earthquake victims of Haiti. This information was announced by the Ministry Foreign Affairs and International Cooperation.