A slowdown in demand for paddy rice on the global market has seen prices drop in Cambodia, with Prime Minister Hun Sen calling on local microfinance institutions to consider delaying the loan repayments of farmers currently experiencing difficulties.
“The drop [in rice prices] isn’t just happening in Cambodia because now all other countries are facing the same – including rice and other agricultural products like rubber,” Hun Sen said during a speech at the inauguration of Chinese-funded National Road 76, which connects Mondulkiri and Rattanakiri provinces.
The Prime Minister also suggested farmers keep their paddy rice in dry storage for a while and wait for the price to go up. “Please don’t sell the wet rice that will be reduced in price by brokers,” he added.
Cambodia Rice Federation vice president Hun Lak welcomed Hun Sen’s request, noting it would also help farmers whose crops had been damaged as well as rice millers.
For more on this story, click here.