Thai rice failure hitting Cambodia

20 February 2014
The Phnom Penh Post
Agricultural policy and administration / Agriculture and fishing / Crop products and commodities / Economic policy and administration / Economy and commerce / Exports / Rice / Trade
Alliance of Rice Producers and Exporters of Cambodia / ARPEC / Battambang Rice Investment / David Van / Khan Kunthy / Thailand / Yingluck Shinawatra

While last year was full of good news for Cambodian rice exports, which hit a record-breaking 378,800 tons, 2014 is getting off to a much slower start. … Thai Prime Minister Yingluck Shinawatra’s controversial pledge to pay farmers above market rates for their rice is coming to an end this month, and it has been wreaking havoc on global markets. Stockpiles accumulating since the scheme was introduced in 2011 have risen to record levels, and an anticipated fire sale has buyers holding out in anticipation of cheap rice flooding the market. Cambodia and other countries are taking the hit. In January 2012, Cambodia exported 9,700 tons of rice. A year on and exports for the same period in 2013 jumped to 25,700. But in January this year, the pace has not been maintained, with only 21,500 tons leaving the country. …

 Chan Muy Hong and Daniel de Carteret
http://www.phnompenhpost.com/business/thai-rice-failure-hitting-cambodia