Rice exporter turns to Cambodia
Capital Rice Ltd, Thailand’s third-largest rice exporter, is shifting some of its business to Cambodia as the Thai market shrinks because of government intervention that has diverted grain into state stockpiles or made it too expensive to ship. “We have built a medium-sized milling house in Cambodia, expecting to start processing rice and export by the first quarter of this year,” Wanlop Pichpongsa, the deputy managing director, told Reuters. … “We can’t deny that the intervention scheme has forced us to move to Cambodia as rice there is much cheaper than at home,” Wallop said. … Cambodian paddy is trading at around 6,000 baht a tonne, giving an export price of $390 per tonne, a level that allows it to compete with India, Vietnam and Pakistan. … China, a big ally, is also providing support, helping Cambodia develop irrigations systems, for example, and building mills. …
http://www.bangkokpost.com/breakingnews/332629/disillusioned-rice-exporter-turns-to-cambodia
