Bangladesh signs deal with Cambodia to purchase rice

Dhaka,  Thu,  21 September 2017
Published : 02 Aug 2017, 20:30:36
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Bangladesh signs deal with Cambodia to purchase rice

Bangladesh signs deal with Cambodia to purchase rice
Bangladesh will purchase 1 million tonnes of rice from Cambodia within the next five years.

The government signed an agreement with Cambodia on Wednesday in this regard.

Food Minister Kamrul Islam and Cambodia's Commerce Minister Pan Sorasak signed the Memorandum of Understanding on behalf of their respective government in Phnom Penh, the capital city of Cambodia, reports Reuters.

"Due to the floods we have a problem this year. We came here to implement an MoU with Cambodia," said Qamrul Islam.

Cambodia said this is their biggest rice export deal, and also plans to renew an MoU with Indonesia as well.

"We want to push for a 1-million-tonne deal with Indonesia," said Commerce Ministry spokeswoman Soeng Sophary.

Bangladesh, the world's fourth-biggest rice producer, has now become a major importer of the grain this year after flash floods in April hit their domestic output. As a result, the country is facing dwindling stockpiles and high local rates.

Cambodia exported 288,562 tonnes of rice in the first six months this year, an increase of 7.6 percent compared with the same period last year.

Though the country was drought-hit, it managed to export 542,144 tonnes of rice last year.
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