Bangladesh to buy 0.25m tonnes Cambodian rice this year 

Dhaka,  Thu,  24 August 2017
Published : 03 Aug 2017, 11:58:41
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Bangladesh to buy 0.25m tonnes Cambodian rice this year 

Bangladesh to buy 0.25m tonnes Cambodian rice this year 


Cambodia and Bangladesh announced a potentially massive rice deal Wednesday.

Under the deal Bangladesh will import up to one million tonnes of Cabodian rice over the next five years, provided they agree on the pricing terms.

Looking to shore up its reserves of rice and dampen down prices following flash floods that devastated rice production, Bangladesh has been turning to neighbors in South and Southeast Asia to buy hundreds of thousands of tonnes of rice at a time.

In the latest deal, the Bangladeshi government will seek to buy 250,000 tonnes of rice from Cambodia this year, said Commerce Minister Pan Sorasak during the signing of the memorandum of understanding on Wednesday. 

The purchase alone would nearly match the 288,562 tonnes of rice Cambodia exported in the first six months of the year, according to statistics from the Agriculture Ministry, according to reports by http://www.phnompenhpost.com and https://www.cambodiadaily.com

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Sorasak said Bangladesh signed a memorandum of understanding (MoU) for the purchase of 1.0 million tonnes of rice after its own crops were damaged by heavy flooding in May and stockpiles to feed its population of 162 million were quickly depleted.

“Bangladesh will purchase one million tonnes of rice in the next five years, with an initial rice shipment of 250,000 tonnes to be delivered by October this year,” he said, adding that the state-owned Green Trade Company would collaborate with the Cambodia Rice Federation (CRF) to fill the export orders.

According to Sorasak, Bangladesh is seeking urgent shipment of 200,000 tonnes of white rice and 50,000 tonnes of parboiled rice in the coming months.

Qamrul Islam, Bangladesh’s Minister of Food, explained that flash floods in the northeastern part of his country in May, which reportedly wiped out a potential 700,000 tonnes of rice under cultivation, had led to a severe food shortage. -SAA
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