FAO says Cambodian wholesale rice prices stable or higher last month

PHNOM PENH: Wholesale rice prices in Cambodia were stable or rising last month despite surges in Thailand and Vietnam, the Food and Agricultural Organisation of the United Nations (FAO) said Wednesday.

The FAO’s latest Food Monitoring and Analysis Bulletin said domestic prices of rice for most countries in East and South Asia rose in August — and were well above their year-earlier level.

In Cambodia, “wholesale prices of rice were stable or increasing in August 2023,” the monthly bulletin said.

“Prices increased by 11 percent in Battambang market, on concerns over the impact of dry weather conditions on ongoing 2023 main crops and by 10 percent in the capital, Phnom Penh, due to high transport cost,” it said.

In Thailand and Vietnam, prices soared to levels “about 45 to 65 percent higher than in August 2022 and hitting muti-year highs, mostly influenced by India’s July ban on non-basmati white rice exports, exacerbated by seasonal upward pressure.”

In Myanmar, prices of a widely consumed variety rose slightly from July. But they were up 120 percent from August last year “after sustained increases since the beginning of 2022, owing to tight availability from a below-average 2022 output, strong export demand, as well as conflict-related disruptions to markets.” AKP

Post Comment