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China, Cambodia sign cooperation deal on rice trade

Reporter: Martin Lowe 丨 CCTV.com

10-14-2016 10:15 BJT

Full coverage: Xi Visits Cambodia, Bangladesh, Attends BRICS summit

Cooperation on rice trade is among the various deals signed between China and Cambodia during President Xi Jinping’s visit. China has also promised to help Cambodia improve its facilities to harvest and store rice.

One of most important things to come out of Xi’s visit to Cambodia has been confirmation of a new deal between the two countries over rice. China has agreed to double the amount of rice it buys from Cambodia each year to 200,000 tonnes.

This is especially welcome news for Cambodia, after a very poor year for rice production. Heavy rains have seen fields flooded and crops lost. And a glut on the world market has seen prices fall by as much as a third since August. This has meant a very low income for rice farmers here.

There have been talks between Chinese and Cambodian officials over possible further financial aid from China for the rice sector. In particular a loan of 300 million dollars to help Cambodia buy special machines to dry harvested rice and to build warehouses in which to store it.

Chinese aid would be a big help to farmers in Cambodia. But they have also been told by the World Bank that they need to improve the way they grow rice to develop consistent quality and lower their costs.

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