PHNOM PENH, May 20 (Xinhua) -- The Cambodian government has prepared enough stockpile of rice in case that the price of rice and paddy rice might increase during the just-started rainy season, English-Khmer language newspaper the Mekong Times said Tuesday.
The government has bought around 150,000 tons of rice for stockpile with the 10 million U.S. dollars earmarked in March, in order to fend off any negative influence from the rainy season and the fluctuation in the global rice market, Son Kunthor, general director of the Rural Development Bank of Cambodia (RDBC), was quoted as saying.
"The stockpile is to stabilize the Cambodian rice market, even though price in the global rice market is rising," he said.
Cambodia will not suffer from food shortage, he added.
Top rice now sells 900 U.S. dollars a ton, while rice of ordinary quality 560 U.S. dollars a ton.
In response to the substantial world rice price hike in mid-March, Cambodia imposed a two-month export ban of rice, supplied subsidized rice to the market and later allocated 10 million U.S. dollars to purchase rice for new stockpile.
Editor: Wang Hongjiang
The government has bought around 150,000 tons of rice for stockpile with the 10 million U.S. dollars earmarked in March, in order to fend off any negative influence from the rainy season and the fluctuation in the global rice market, Son Kunthor, general director of the Rural Development Bank of Cambodia (RDBC), was quoted as saying.
"The stockpile is to stabilize the Cambodian rice market, even though price in the global rice market is rising," he said.
Cambodia will not suffer from food shortage, he added.
Top rice now sells 900 U.S. dollars a ton, while rice of ordinary quality 560 U.S. dollars a ton.
In response to the substantial world rice price hike in mid-March, Cambodia imposed a two-month export ban of rice, supplied subsidized rice to the market and later allocated 10 million U.S. dollars to purchase rice for new stockpile.
Editor: Wang Hongjiang
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