Milled rice exporter Mekong Oryza Trading Co Ltd signed an export memorandum of understanding (MoU) with companies from Hong Kong and South Africa in Phnom Penh on Tuesday.
The agreement was inked between Mekong Oryza Trading, Hong Kong-based Zhonghui Taifu International Co Ltd and South African-based Green Shield Africa Group. It was witnessed by Minister of Agriculture, Forestry and Fisheries Veng Sakhon.
Sakhon said: “The MoU will help boost Cambodia’s milled rice exports to Chinese and European markets, and now South Africa, which is a new market.”
Mekong Oryza Trading president Hun Lak told The Post on Tuesday that the MoU will last for three years, during which the company plans to export some 100,000 tonnes of milled rice to China, Africa and Europe.
He said the firm’s initial shipment of between 3,000 and 5,000 tonnes is planned for the end of this month. The second shipment will be for 70,000 tonnes and the balance will be on the third shipment.
“We will find more new markets besides China and diversify our exports to build our competitiveness,” Lak said.
Cambodian rice exports in the first nine months of the year rose two per cent year-on-year, led by the Chinese market, a Cambodia Rice Federation report said.
Rice exports to China increased more than 44 per cent, the report said, while exports to the EU dropped nearly 30 per cent. Total rice exports during the period reached 398,586 tonnes, a 2.3 per cent year-on-year increase from 389,264 tonnes.