May 09, 2008 15:04 PM
Cambodia To Grow More Rice As Price Doubles
PHNOM PENH, May 9 (Bernama) -- The Cambodian government needs to
further support farmers to grow more rice, as its price has doubled
recently and the country may find it another pivotal revenue
generator, national media said on Friday.
"We should support farmers to grow more rice by improving rural
infrastructure, especially irrigation, expanding rural credit and
finding better access to world market", XINHUA news agency reported
Friday quoting Commerce Minister Cham Prasidh as saying in an English-
language newspaper.
"For Cambodia now, we see rice as gold," he said, adding that this is
making the government rethink its strategy for economic growth.
Rather than focus on building niche markets, such as labor-friendly
garment manufacturing, and negotiating favorable trade deals with the
developed world, rising food prices mean Cambodia has a chance to
transform itself into a profitable rice bowl for the world, he said.
"Since we start to see the effect and implications of the food crisis
in the world, we may now to reconsider what we should do," he said.
There are a lot of people that need food, he said, adding that it is a
safe bet that the bottom won't fall out of the rice market anytime
soon .
Price of high-quality rice has doubled recently in world market, as
high as US$1,000 a tonne.
Cambodia has been seeking to organize a rice exporting countries'
alliance to exert more influence in world market, just as OPEC, the
Organization of Petroleum Exporting Countries, manipulates the global
oil price.
The rice exports of Cambodia, Vietnam and Thailand are believed to
account for over 50 percent of the world's total annual rice exports.
-- BERNAMA
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