According to the sources, it has been reported that despite the realities of the global rice export market, work continued as usual for rice farmers on Thursday on the outskirts of Phnom Penh. It has been narrated that on Thursday, about 10 farmers planted fresh rice shoots into the greyish mud of a rice field. Further, the farmers were reportedly from Takeo Province and came north towards Phnom Penh for work. However, the rice industry might soon encounter very tough times, as global oversupply of rice is causing prices to fall, as reported by the Phnom Penh Post newspaper on Wednesday.
Furthermore, in this matter, it has been revealed that Cambodia’s rice exports dropped by 6 percent in the first half of this year, along with similar decreases from its Southeast Asian neighbors. It has been noted that the downward trend is hitting small and medium size rice millers the hardest, with at least five such Cambodian millers going out of business over the last year, as stated by Mr Moul Sarith, Secretary-general of the Cambodian Rice Federation (CRF), as cited by the Post. Further, it has also been warned that up to half of Cambodia’s rice millers could go bankrupt by the end of the year as it has been told.