Rice Millers to Increase Capital
Cambodian rice millers will increase their capital to purchase unmilled rice this season as bankers agreed to provide more loans, insiders said on Monday. Baitong will increase its capital to purchase up to 140,000 tonnes of fragrant unmilled rice, compared to last year’s 70,000 tonnes said Phou Puy, president of the Federation of Rice Millers Associations and the Baitong Rice Export Company. Working capital would increase from US$28 million to $50 million this year as fragrant unmilled rice cost $450 per tonne, an increase from $400 per tonne he said. Acleda Bank will increase loans for the agricultural sector to $200 million, with a total of $1.35 billion over the next year, an increase of $50 million from the year before, In Channy, CEO and president of Acleda Bank, said. “We have increased loans for this sector because of the royal government’s policies and in order to support this sector,” he said. …
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