Thursday, July 8
The Philippines wants to forge a counter trade deal with Cambodia for 300,000 metric tons of rice during the first RP-Cambodia Investment and Trade Mission this week.
“Cambodia has a lot of exportable rice surplus. Part of our mission is to get them to agree to a counter trade agreement wherein the Philippines will source 200 to 300,000 metric tons Cambodia rice in exchange for Philippine agricultural produce and post harvest technology," said Pablito Villegas, the trade mission’s investment officer agribusiness.
Villegas said the Philippine delegation would also try to work out direct trade deals on rice during its mission. “The problem with Cambodia is that they are not exporting their rice. It shares common border with Vietnam and Thailand, so that Thailand siphons majority of their rice. Technically speaking, what we buy from Thailand is Cambodia rice," he said.
Cambodia expects a 3.1 million MT surplus of exportable paddy rice this year, according to Cambodia’s Supreme National Economic Council.
Cambodia is soon coming up with a rice export policy, would like to consult the Philippines for possible collaboration and assistance in post-harvest technology.
“They would like to deal directly with the Philippines. We believe that we can purchase the rice at 20 to 30 percent cheaper from what we normally pay other suppliers," Villegas said. —VS,GMANews.TV
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