Cambodian Rubber Prices Rise After Floor Price Agreed

12 November 2014

The price of Cambodian rubber sold locally and internationally is creeping back up after a floor price was agreed upon last month by the region’s rubber representatives.

Cambodian government officials and industry representatives have urged buyers and sellers to ensure that the market price of rubber remains in line with the floor price of $1.50 per kg agreed at an October meeting in Malaysia. The floor price aims to revive an industry that has been badly affected by plummeting global prices due to slowing demand from major importer China.

Managing Director of local rubber exporter Long Sreng International Co., Ltd., said export prices have increased from $1,450 per ton to the agreed $1,500 about 10 days after the meeting in Malaysia.

Source:

http://www.cambodiadaily.com/business/cambodian-rubber-prices-rise-after-floor-price-agreed-71922/

Rice federation seeking loan

12 November 2014

The Cambodian Rice Federation (CRF) is seeking financing from China’s Export-Import Bank (Ex-Im) to build much-needed infrastructure such as warehouses and drying facilities to hopefully increase milled rice export capacities.

President of the CRF told the Post yesterday that the CRF had set up a working group charged with studying Cambodia’s rice industry and preparing a proposal for the Chinese bank’s funds. In May, during the CRF’s presidential appointment, that Cambodia’s rice industry needed more than $500 million in financial assistance for industrial development. CEO of Acleda Bank, which last year provided about 50% of the agriculture industry’s $700 million worth of commercial banking loans, said the CRF will have to provide clear and transparent financial statements to prove the need for such a loan.

Source:

http://www.phnompenhpost.com/business/rice-federation-seeking-loan

Cambodia, Japan trade up

12 November 2014

Cambodia is quickly becoming a hub for Japanese exports. The state-run agency’s latest trade figures show Cambodia exported more than $584 million worth of locally made products to Japan over the first nine months of the year.

The result represents a 35% increase compared to the same period in 2013 – the largest year-on-year increase of all ASEAN nations. The Kingdom’s main exports to Japan are garments and footwear, electrical machinery and leather goods. “Many Japanese companies are looking for their next investment destination after China, Thailand and Vietnam. Cambodia could be one of the best candidates to receive the needs of Japanese investors.”

Source:

http://phnompenhpost.com/business/cambodia-japan-trade

Cambodia greets nearly 3.2 mln foreign tourists in 9 months

11 November 2014

Cambodia received nearly 3.2 million foreign visitors in the first nine months of 2014, a 5% rise from 3.05 million over the same period last year.

Most of the visitors to Cambodia are from Vietnam, China, South Korea, Laos and Thailand. The minister said the growth rate in the first nine months of this year was low if compared to the same period last year, which stood at 19%. Cambodia is famous for two cultural sites in the UNESCO's World Heritage List. One is the 12th century Angkor Wat Temple and the other is the 11th century Preah Vihear Temple.

Tourism is one of the four pillars supporting the economy. Cambodia received 4.2 million inbound tourists last year, generating about 2.5 billion U. S. dollars, which accounted for 16% to the GDP.

Source:

http://thecambodiaherald.com/cambodia/cambodia-greets-nearly-32-mln-foreign-tourists-in-9-months-7614

Cambodia-U.S. Trade Volume Increases During First Nine Months of 2014

11 November 2014

The first nine months of 2014, the Cambodia-U.S. bilateral trade volume has reached approximately US$2,415 million, showing an increase of 6.56%, as compared to the same period of 2013.

Cambodia’s exports to the U.S. were valued at about US$2,161 million, up by US$69.1 million or 3.3 percent while the imports from the U.S. were amounted to US$253.4 million, an increase by US$79.7 million or 31.45 percent, over the same period last year. The U.S. is the biggest market for Cambodian products such as garment and agricultural products.

Source:

http://www.akp.gov.kh/?p=53676