Cambodian Rice on Hot Sale in China

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Re: Cambodian Rice on Hot Sale in China

Post by CEOCambodiaNews » Thu Jan 24, 2019 7:58 am

January 22, 2019
China pledges to purchase 400,000 tonnes of rice from Cambodia

China has pledged to purchase 400,000 tonnes of rice from Cambodia this year, according to Prime Minister HE’s facebook post.

The pledge was made during the bilateral meeting in Beijing between Mr HE and Chinese president Xi Jinping yesterday evening.

Mr Xi promised Mr HE that China will increase the quota of rice import from Cambodia in 2019, aimed at boosting the bilateral trade between the two countries to about $10 billion in 2023.

Last year, Cambodia exported 626,225 tonnes of rice to international markets, a drop of 1.5 percent compared to 2017.

By individual country, the largest buyer was China (170,000 tonnes), followed by France (90,000 tonnes), Malaysia (40,000 tonnes), Gabon (30,000 tonnes), and the Netherlands (26,000 tonnes).
https://www.khmertimeskh.com/571231/chi ... -cambodia/
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Re: Cambodian Rice on Hot Sale in China

Post by CEOCambodiaNews » Thu Apr 25, 2019 5:41 pm

China to Sign MoU on Buying 400K Tons of Cambodian Rice
25/04/19 17:25
Phnom Penh (FN), April 26 - Cambodia-China agreed on a draft Memorandum of Understanding (MoU) on the purchase of 400,000 tons of rice from Cambodia, and that the MoU will be signed at the 2nd Belt and Road Forum in Beijing on 27 April 2019, according to the Ministry of Commerce press release dated Thursday.

The new MoU’s term will last from August 2019 to late December 2020, effective immediately after the two parties successfully implemented the first MoU signed on 11 January 2018 on 300,000 tons quota.

The two parties will establish a Joint Business Control Mechanism to monitor the implementation of MoU quarterly to address emerging challenges.

In 2018, Cambodia exported 626,225 tons of rice to international markets, having China as the largest importer, 170,000 tons, followed by France 90,000 tons, and Malaysia 40,000 tons.

Cambodian Prime Minister HE departed Phnom Penh this Thursday morning to attend the 2nd Belt and Road Forum for International Cooperation and a series of events and meetings in Beijing from 25 to 29 April 2019 at the invitation of Chinese President Xi Jinping.
=FRESH NEWS
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Re: Cambodian Rice on Hot Sale in China

Post by Phnom Poon » Thu Apr 25, 2019 5:46 pm

B̶a̶n̶a̶n̶a̶ Rice republic

.

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Re: Cambodian Rice on Hot Sale in China

Post by Duncan » Thu Apr 25, 2019 7:11 pm

It's not about how much rice you sell. The big question is '' how much are you getting for it,''and can you get more if selling it on an other market. The next question is are the growers getting a good price for their work effort or would they be better off working as tuk-tuk drivers. If not,, who's going to grow rice for you to sell.
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Re: Cambodian Rice on Hot Sale in China

Post by SternAAlbifrons » Thu Apr 25, 2019 8:01 pm

Does anybody know why Cambodia does not have the storage facilities for paddy that neighbouring countries have?

Cambodia would get a much higher return for its export crop if it could be stored here, then processed locally, and sold directly into the export markets.

Human capability has very little to do with warehousing and processing rice. It would seem to be just a capital/commercial decision.
Why don't the dollars stack up for full storage and processing facilities here??
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Re: Cambodian Rice on Hot Sale in China

Post by Arget » Fri Apr 26, 2019 9:22 am

CEOCambodiaNews wrote:
Thu Apr 25, 2019 5:41 pm
China to Sign MoU on Buying 400K Tons of Cambodian Rice
25/04/19 17:25
Phnom Penh (FN), April 26 - Cambodia-China agreed on a draft Memorandum of Understanding (MoU) on the purchase of 400,000 tons of rice from Cambodia, and that the MoU will be signed at the 2nd Belt and Road Forum in Beijing on 27 April 2019, according to the Ministry of Commerce press release dated Thursday.

The new MoU’s term will last from August 2019 to late December 2020, effective immediately after the two parties successfully implemented the first MoU signed on 11 January 2018 on 300,000 tons quota.

The two parties will establish a Joint Business Control Mechanism to monitor the implementation of MoU quarterly to address emerging challenges.

In 2018, Cambodia exported 626,225 tons of rice to international markets, having China as the largest importer, 170,000 tons, followed by France 90,000 tons, and Malaysia 40,000 tons.

Cambodian Prime Minister HE departed Phnom Penh this Thursday morning to attend the 2nd Belt and Road Forum for International Cooperation and a series of events and meetings in Beijing from 25 to 29 April 2019 at the invitation of Chinese President Xi Jinping.
=FRESH NEWS
Let us read this again............

Last year, Cambodia exported 626,225 tonnes of rice to international markets, a drop of 1.5 percent compared to 2017.

By individual country, the largest buyer was China (170,000 tonnes), followed by France (90,000 tonnes), Malaysia (40,000 tonnes), Gabon (30,000 tonnes), and the Netherlands (26,000 tonnes).
AND

The new MoU’s term will last from August 2019 to late December 2020, effective immediately after the two parties successfully implemented the first MoU signed on 11 January 2018 on 300,000 tons quota.
So Cambodia and China had a deal to sell/buy 300k tons but only bought 170k tons....is this correct?

The total tonnage sold to largest buyers was 356000 tons.........leaving out that Cambodia sold a further 270000 tones to somewhere. As asked before to market almost 2 thirds of the rice exported to China will require a cut in sales to everyone else as this year being a drought year will reduce the amount of rice available for sale UNLESS...... they sell to China and buy again from Vietnam..

Depending on the MOU Cambodian could lose big time if they don't meet the targets and quality but on the flip side by consolidating sales to one country forces other buyers to find markets elsewhere thus leaving Cambodia fucked if China says in 2021 sorry don't want so much anymore or says we will only pay 2000 reil per kilo.

Either way it could cause problems.

just a thought.
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Re: Cambodian Rice on Hot Sale in China

Post by Anchor Moy » Fri Apr 26, 2019 4:54 pm

Depending on the MOU Cambodian could lose big time if they don't meet the targets and quality
This proposed rice deal with Bangladesh is a good illustration. Unless there was any further news since the last post, the deal fell through.
post205226.html?hilit=Bangladesh%20rice#p205226
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