PHNOM PENH, March 30 (Xinhua) -- Cambodia needs 350 million U.S. dollars to boost rice paddy production and rice exports to hit one million-ton a year from 2015, said a senior finance official on Wednesday.
Of the amount, 200 million U.S. dollars will be used to purchase rice paddy from farmers for processing and 150 million U. S. dollars for building hi-tech post harvest technology, Hang Chuon Naron, secretary of state for the Finance Ministry, told reporters after a seminar on environment, agriculture and development.
"Currently, the country's high-tech rice mills are capable to process only 200,000 tons of rice per year, so to meet the target of exporting 1 million tons a year by 2015, it needs to invest other five times, or around 150 million U.S. dollars, in building sophisticated rice mills," he said."So far, we have mobilized about 50 million U.S. dollars from banks and development partners for this task," he said.
The country, in August last year, set up a rice paddy production and rice export policy aiming to increase rice exports in Cambodia to one million tons a year from 2015.
Hang Chuon Naron said that the target markets that Cambodia focusing on are the Europe and China.
Chan Sarun, minister of agriculture, forests and fisheries, said in the seminar that in order to meet the need in foreign markets, the ministry has actively advised farmers to grow ten types of rice seeds that are popular among foreign countries."Now the issue that we need to give more attention to is sanitary and phyto-sanitary in order to adapt to international agreements in protecting interests of our trade partner countries," he told the seminar with 150 participants, who are government officials from the ministries of agriculture, commerce, finance, environment, industry, and rice exporters, millers, bankers as well as development partners.
Cambodia produced 8.25 million tons of rice paddy in the harvest season 2010-2011. Of this figure, the country has 3.9 million tons of rice paddies, or 2.5 million tons of milled rice left over for exports this year, said Chan Sarun.
