Bangladeshi government to buy 1M tons of rice from Cambodia

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Bangladeshi government to buy 1M tons of rice from Cambodia

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3 August 2017
- In a major deal that could boost Cambodia’s total rice exports by nearly 50 percent this year, local and Bangladeshi officials signed a deal aiming to move 1 million tons of rice over five years, the countries’ representatives announced on Wednesday.

In the latest deal, the Bangladeshi government will seek to buy 250,000 tons of rice from Cambodia this year, said Commerce Minister Pan Sorasak during the signing of the memorandum of understanding on Wednesday. The purchase alone would nearly match the 288,562 tons of rice Cambodia exported in the first six months of the year, according to statistics from the Agriculture Ministry.

And it would go a long way toward helping Cambodia approach its long-promised—but repeatedly missed—goal of hitting 1 million tons of milled rice exports a year, as well as lift its struggling rice farmers, who blocked roads in protest amid a rice price crisis late last year.

The sector has seen some stagnation in recent years, with the country exporting 542,144 tons last year, just 0.7 percent more than in 2015.

Sok Puthyvuth, head of the Cambodia Rice Federation, said the signing on Wednesday was only the first step in the process, and private companies would discuss prices in the coming months. The trade process itself may prove challenging, Mr. Puthyvuth said, because Sihanoukville Port is not yet capable of handling the shipment sizes the deal could demand. “This year we expect the port might be too small to enable the export, but we anticipate that next year the problem will be improved as the port will be expanded,” he said...
http://news.easybranches.com/commerce-m ... bangladesh
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Re: Bangladeshi government to buy 1M tons of rice from Cambodia

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Kingdom courts rice deal with Bangladesh
Thu, 10 August 2017
The Kingdom’s apex rice industry body has been meeting this week to discuss ways of nailing down a potentially massive deal with Bangladesh, which earlier this month inked a memorandum of understanding to purchase 1 million tonnes of Cambodian rice over the next five years.

Bangladesh has been shopping around to fill its silos after devastating floods earlier this year reportedly wiped out a potential 700,000 tonnes of rice under cultivation, leading to a severe food shortage. Its government has reportedly discussed import deals with Thailand, Vietnam and India, but has yet to settle on a supplier.

The Cambodia Rice Federation (CRF) convened on Tuesday for a strategy session aimed at clinching Bangladesh’s initial order of 250,000 tonnes of rice. The shipment calls for 200,000 tonnes of white rice and 50,000 tonnes of parboiled rice to be delivered in October.
Norng Veasna, director of sales and marketing at Nikoline Rice Mill, said local millers were ready to supply rice to Bangladesh but would need support – such as reduced electricity tariffs or logistics costs – to lower their price.

He said currently the market price for Cambodian white rice was between $410 and $415 a tonne. By comparison, Thailand was offering $390 to $395 a tonne, and Vietnam was even cheaper at $385 to $390 a tonne. In addition, Cambodia’s market price on parboiled rice was $450 per tonne, about $50 higher than that of Thailand and Vietnam...
http://www.phnompenhpost.com/business/k ... bangladesh
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Re: Bangladeshi government to buy 1M tons of rice from Cambodia

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nice! :)
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Re: Bangladeshi government to buy 1M tons of rice from Cambodia

Post by CEOCambodiaNews »

25 August 2017
- Cambodian officials and members from the private sector have refuted international media reports that claim the price for rice exports to Bangladesh will be set at $453 a tonne as part of a government-to-government deal that hopes to see 250,000 tonnes of white rice exported to Bangladesh by October.

A report released yesterday by Reuters cited two Bangladeshi officials from the Food Ministry as having set the price at $453 per tonne, adding that the purchase agreement was still waiting Cambodian government approval. Cambodia has been negotiating with Bangladesh on prices for a potentially massive deal after inking a memorandum of understanding earlier this month that could see 1 million tonnes of rice sent to the South Asian country over the next five years.

Hun Lak, vice president of the Cambodia Rice Federation (CRF), said he was unaware of that price being suggested by state-owned rice exporter Green Trade, the firm that is in charge of handling negotiations. He added that a price is expected to be finalised in mid-September and needs to cover the costs associated with insurance and freight...
www.phnompenhpost.com/business/governme ... -rice-deal
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Re: Bangladeshi government to buy 1M tons of rice from Cambodia

Post by AndyKK »

With Cambodia growing around @9 million tonnes of rice per year they should satisfy the quota.
Always "hope" but never "expect".
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Re: Bangladeshi government to buy 1M tons of rice from Cambodia

Post by CEOCambodiaNews »

AndyKK wrote: Sun Aug 27, 2017 6:12 pm With Cambodia growing around @9 million tonnes of rice per year they should satisfy the quota.
Unfortunately, no, it now looks as if the deal will fall through. No measures were taken to ensure that sufficient stocks of rice would be available for export in November, and in fact, it was clear when the MoU was signed with Bangladesh in August that there would not be enough rice to honor the agreement.

Bangladesh rice deal shelved
Mon, 13 November 2017
Cambodia has failed to finalise the terms of a massive 250,000-tonne delivery of rice to Bangladesh, with industry insiders claiming that shipments have been cancelled as millers do not currently have the stockpiles to meet export demand while hopes for further negotiations appear to be dwindling.

The rice deal was originally made in August, when relevant ministries from the two countries signed a memorandum of understanding (MoU) and made plans for initial shipments of rice to begin being shipped to Bangladesh in November.

Kim Savuth, chairman of Khmer Foods Group, said that the deal was ill-fated to begin with as millers would not have enough time to harvest white rice before the November shipment.
“When the CRF came to ask me to supply white rice, I could not as I did not have enough stock because the harvest season was not yet finished,” he said.
“I have no idea how this deal with Bangladesh can work.”
“Our rice stock is empty. That’s why we could not export rice in accordance with the agreement,” he said.

http://www.phnompenhpost.com/business/b ... al-shelved
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Re: Bangladeshi government to buy 1M tons of rice from Cambodia

Post by CEOCambodiaNews »

The on-off rice deal between Cambodia and Bangladesh is to be renegociated in December.
Commerce Ministry officials and members of the private sector will fly to Bangladesh next month to discuss a new purchasing agreement for milled rice, after Bangladesh recently cancelled an order of the commodity.

Reuters has reported that Bangladesh terminated the deal with Cambodia to import 250,000 tonnes of white rice due to a delay in the shipment.

Badrul Hasan, the head of Bangladesh’s state grain buyer, said the deal was cancelled after Cambodia failed to supply the rice on time.

Hun Lak, the vice-president of the Cambodia Rice Federation (CRF), said the deal was cancelled because Bangladesh has high requirements about the way the export process is conducted.
http://www.khmertimeskh.com/5090719/ban ... ill-valid/
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