Phnom Penh (MGO) – Cambodia’s rice export price is keeping increasing, while the global food security crisis continues, as a result, the supply of rice from producing countries has also increased and demand has been higher.
The President of the Board of the Rice Federation of Cambodia, Duke. Hun Lak said on June 21 that the export price of Cambodia’s rice was expected further increase due to the war crisis in Ukraine which caused the change in fuel price and global food insecurity continues and some wheat-producing countries have also suspended their exports that causing the rice's price in some rice producing countries are keep increasing such as Cambodia Thai and Vietnam as well.
Duke added that despite the Ukraine war crisis caused food shortage and the change in the global fuel price affecting the global economy, however, in Cambodia which is a rice-producing country the order from the partner country increased and the price also surge as well.
He added that if we see the release of Thai media about the export status and the demand for rice in Thailand, the Thai Industry Federation has claimed that the global food shortage in the third and fourth quarters of 2022 is estimated to be up. The shortage of food seems to be providing many benefits to Thai food export companies while some countries such as India, Serbia, Kazakhstan, Kosovo, and Egypt restricted their exports, including wheat.
Previously, an expert from the World Food Program of the United Nations claimed that the food crisis will make nearly 50 million people around the world more at risk of famine without a quick settling, the number of people with severe food insecurity has now doubled to 135 million since the crisis of the Covid-19 occurred and more than 800 million people face starvation.
So far, 52 percent of Cambodia’s exported rice was exported to China, the second-largest was exported to the EU and the following are ASEAN member countries.