The Cambodian Ministry of Agriculture reveals the reasons for the drop in rice prices in Battambang Province​

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[INNEWS Comprehensive Report] On September 7, Im Rachna, spokesperson of the Cambodian Ministry of Agriculture, Forestry and Fisheries, explained the decline in rice prices in Battambang Province.

Recently, farmers in Battambang Province have complained about the continued decline in rice prices. In this regard, Im Rachna pointed out that the problem mainly lies in two aspects.

First of all, as Cambodian farmers are about to enter the harvest season, while Vietnamese rice has not yet been harvested, Vietnamese traders have turned to importing large quantities of rice from Cambodia. However, as Vietnamese rice gradually entered the harvest period, the import demand for Cambodian rice naturally decreased, which was an important factor leading to the drop in rice prices.

Secondly, Im Rachna also said that rice prices naturally fluctuate based on market supply and demand. Previously, because Vietnam needed to buy rice from Cambodia until its harvest season, this reduced the demand for rice in the Cambodian market and the price dropped accordingly. However, even as prices fall, farmers can still make steady profits.

It is understood that the Cambodian Ministry of Agriculture, Forestry and Fisheries is actively taking measures to continue to work closely with the private sector and the Rice Federation to open up new markets to ensure that the price of rice in Cambodia can reach a level that allows farmers and investors to get a fair return.

In addition, the Ministry of Agriculture of Cambodia is also actively attracting investors to invest in Cambodia, especially in the fields of rice seed production, fertilizers, pesticides and other agricultural inputs. This will not only reduce farmers’ costs, but also further increase their profits.