The award ceremony was held late last week at Guangxi Zhuang Autonomous Region Seed Management Station and Rice Research Institute of Guangxi Academy of Agricultural Science, Guangxi Zhuang Autonomous Region, China.

On his social media networks this morning, Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of Cambodia, expressed his congratulations to SKO on receiving the gold award.

Sixty-one (61) rice varieties, of which 12 from five ASEAN member countries, were summited for the contest, the Cambodian Rice Federation (CRF)’s press release dated Oct. 31 stated.

SKO was recognised by the competition committee as a good and delicious rice variety, said CRF, stressing that with the gold award, SKO will be recognised more widely and have a wider market.

The collective trademark of SKO was officially inaugurated in June 2022 aiming to increase exporters’ confidence and boost the export of milled rice to the global markets.

SKO fragrant rice is popular all over Cambodia, as it provides high yields, is aromatic and of good quality, and is soft and delicious, according to the Ministry of Agriculture, Forestry, and Fisheries.

Cambodia had exported 456,581 tonnes of milled rice in the first nine months of 2023, earning US$327.4 million, CRF pointed out.

Of the figure, 155,366 tonnes were shipped to China during the above-mentioned period, generating a gross revenue of US$99.6 million.

The post SKO collective rice trademark wins Gold award first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

One of the strategies is to increase the presence of Cambodian rice in the international market. The CRF has already organized an exhibition in Dubai to introduce African and other regional buyers to Cambodian rice. The federation is also planning to participate in food fairs in Thailand and Germany in the coming months.

Another strategy is to take advantage of free trade agreements (FTAs) that Cambodia has signed with China, Korea, and the United Arab Emirates. These FTAs will make it easier for Cambodian rice to enter these markets.

In 2022, Cambodia exported nearly 640,000 tons of milled rice to international markets and exported more than 3 million tons of rice, valued at more than $ 1,255 million.

In the first five months of 2023, Cambodia exported nearly 280,000 tons of milled rice and more than 2 million tons of rice with a budget of $736.90 million.

The post Cambodia aims to export 1 million tons of milled rice by 2025 first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

However, the new agreement has not yet fixed the volume of rice exports but is set to have an implementation period of 17 months.

Over the past decade, China has gradually increased its import of rice from Cambodia, with the quantity rising from 600 tonnes in 2011 to over 300,000 tonnes annually (equivalent to 10% of China’s yearly rice imports).

Recent data from the Cambodian Rice Federation showed that in Q1 of 2023, Cambodia exported over 170,000 tonnes of rice to 42 destinations, with China being the largest recipient at 80,000 tonnes, accounting for 48% of total exports.

Cambodia and China have had a long-standing economic relationship, and the latest discussions on boosting rice exports are a testament to the shared interest in strengthening trade ties.

Cambodia’s rice industry plays a significant role in the country’s economy, as such enhancing rice exports to China could be a game-changer for the industry, enhancing the livelihoods of many rice farmers and driving up the country’s foreign exchange earnings.

The post Cambodia, China ready to sign 7th MOU to boost rice exports first appeared on Estatedia | Economy & Real Estate Media in Cambodia.