PHNOM PENH: In the first seven months of 2023, Cambodia's agricultural exports saw a 20% decrease when compared to the same period in 2022. According to a report from the Department of Agriculture on August 8, Cambodia has exported just over 4.5 million tons of agricultural products this year, including 362,708 tons of milled rice and over 1,510,850 tons of unmilled rice to 68 countries.
At the same time, the estimated value received from the export of agricultural products is nearly $2.6 billion US. The report states that although agricultural exports to overseas markets have declined, Cambodia’s second quarter this year saw a 3.32% increase, which is attributed to India’s decision to shut down its rice exports to maintain its own food security.
The price of rice in the international market has been rising and Cambodia is studying strategies that can benefit its economy by increasing the capacity of local mills to increase processing. The government has also been trying to seal deals which will allow for the direct export to international markets.
