Economy

Cambodia eyes Chinese market for rice export: PM

(Xinhua)
Updated: 2010-10-18 16:39

PHNOM PENH - Cambodia's Prime Minister Hun Sen said Monday that his country is eyeing Chinese market for rice exports.

Delivering speech to the graduate students, Hun Sen said Cambodia and China are negotiating on the exports of rice from Cambodia to Chinese markets.

He said within this week, there will be a signing agreement between the two sides on the exports of Cambodian rice.

In addition to rice exports, Hun Sen said China has granted Cambodia favorable conditions in exports.

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In August, the Cambodian government announced that it had set 2015 to show this nation's competence in becoming one of the major rice exporters to world's markets.

Hun Sen said by reaching the target, it must start from the first production of "rice surplus" at the reach of "more than 4 million tons" per year and at least 1 million ton of the amount will be allocated for export, while at the same time the rice must "meet an international standard."

He said, despite the fact that Cambodia is rich and potential enough in rice production, the real yields are not yet satisfied compared to neighboring countries.

Hun Sen said in 2008, Cambodia could only produce 2.6 tons of rice per hectare of land, while Thailand could produce 2.8 tons, Laos 3.5 tons, and Vietnam 4.9 tons.

He acknowledged that one of the major blocks to large rice production in Cambodia is shortage of water.

About 80 percent of Cambodia's 14 million population are farmers. Last year, Cambodia produced more than 7 million tons of rice.