SIEM REAP: Khy Thay Corp, a Cambodian rice miller, said it was
ready to ship up to 20,000 tonnes of rice to Indonesia starting this
year and to buy Indonesian agriculture machinery valued at US$380
million (RM1.18 billion).
The move came after the two countries signed a rice trade deal last week.
As Indonesia seeks to boost trade and investment in Cambodia, it signed a deal last Tuesday to import as much as 100,000 tonnes of rice annually from the Indochinese country. Gita Wirjawan, Indonesia's trade minister, and Cham Prasidh, the Cambodian minister of commerce, inked a non-binding agreement.
The move came after the two countries signed a rice trade deal last week.
As Indonesia seeks to boost trade and investment in Cambodia, it signed a deal last Tuesday to import as much as 100,000 tonnes of rice annually from the Indochinese country. Gita Wirjawan, Indonesia's trade minister, and Cham Prasidh, the Cambodian minister of commerce, inked a non-binding agreement.
The deal allows Bulog, the state logistics agency, to import rice each year from 2012 through 2016 up to the specified cap. The import ceiling could be increased if needed.
Khy Thay, general director of Khy Thay Corp, said that the company has
been waiting for the deal, which would allow it to expand its market and
justify its plan to expand its milling capacity.
"Right now we can ship rice at any time. We have 20,000 tonnes ready for shipment. You can see it yourself," Khy Thay said at the company's processing facility on Wednesday in Kampong Thom province, Cambodia's second-largest province by area.
Khy Thay is a family company established in 1930, which buys rice from farmers and sells it, husked or unhusked, to Thailand and Vietnam. The company oversees a farmers' association with 1.2 million members, each of whom owns about a hectare of land.
In 2008, the Cambodian government gave permission for the company to sell rice overseas, including to Poland and Asian countries.
"Right now we can ship rice at any time. We have 20,000 tonnes ready for shipment. You can see it yourself," Khy Thay said at the company's processing facility on Wednesday in Kampong Thom province, Cambodia's second-largest province by area.
Khy Thay is a family company established in 1930, which buys rice from farmers and sells it, husked or unhusked, to Thailand and Vietnam. The company oversees a farmers' association with 1.2 million members, each of whom owns about a hectare of land.
In 2008, the Cambodian government gave permission for the company to sell rice overseas, including to Poland and Asian countries.
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