Rice export MoU signed

Cambodia has signed a memorandum of understanding (MoU) yesterday to export 100,000 tonnes of rice per year to Indonesia. Senior Cambodian officials hope the MoU will be the impetus for attracting more investments from other ASEAN member states. The MoU was signed between Cambodia’s Minister of Commerce and Indonesia’s Trade Minister Gita Irawan Wirijawan in Siem Reap yesterday, and comes as Indonesia finds itself in need of imports for the first time since 2008 and 2009 as domestic rice stocks will not meet demand this year, according to Bloomberg. Cham Prasidh, Cambodia’s Minister of Commerce, said Cambodia’s state-owned Green Trade Company will supply to the Indonesian state-owned firm DULOG as part of the deal. … Thon Virak, director of a state-owned-rice exporter Green Trade Company, told the Post previously that under the deal Indonesia has not limited the amount it will import. Green Trade is working with 10 other private domestic companies to meet the supply required by the deal with the price per tonnes between US$460-$470. …

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